Bleichmar Fonti & Auld LLP | Complex Litigation Law Firm | BFTA Secures Class Certification in <em >Weatherford</em >
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BFTA Secures Class Certification in Weatherford

September 29, 2014
Freedman v. Weatherford Int'l, Ltd., No. 12-CV-2121 (S.D.N.Y.)

Bleichmar Fonti Tountas & Auld LLP serves as the Court-appointed Co-Lead Counsel on behalf of Co-Lead Plaintiff Anchorage Police & Fire Retirement System.  The  case  arises  from  three  separate  but  related  restatements  of Weatherford’s publicly filed financial statements between 2011 and 2012, resulting in a reversal of over $1 billion of falsely reported taxes.
 
On September 29, 2014, the Honorable Lewis A. Kaplan entered an Order certifying a class of investors who purchased Weatherford Int'l, Ltd. common stock between March 2, 2011 and July 24, 2012, and who were damaged thereby.  Excluded from the Class are (i) Defendants; (ii) members of the immediate family of any Defendant; (iii) officers of Weatherford during the Class Period; (iv) any firm, trust, corporation, officer or other entity in which any Defendant had a controlling interest; (v) Defendants' directors' and officers' liability insurance carriers and any affiliates or subsidiaries thereof; (vi) the Company's employee retirement and benefit plan(s); and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded party.

In addition, the Court approved the appointment of Co-Lead Plaintiff Anchorage Police & Fire Retirement System as a Class Representative, and approved BFTA and its co-counsel to serve as Class Counsel. 

Fact discovery is ongoing and is scheduled to conclude on February 6, 2015.