Announcing Summary Notice of Pendency of Class Action in Freedman v. Weatherford International, Ltd., et al.

May 15, 2015, 09:00 ET from Labaton Sucharow LLP and Bleichmar Fonti Tountas & Auld LLP

NEW YORK, May 15, 2015 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP and Bleichmar Fonti Tountas & Auld LLP regarding Freedman v. Weatherford International, Ltd, et al.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

GLENN FREEDMAN, Individually and on Behalf of All Others Similarly Situated, Plaintiff,
v. WEATHERFORD INTERNATIONAL LTD., et al., Defendants.

Civil Action No.: 12-CV-02121-LAK-JCF

To: All persons and entities that purchased or acquired Weatherford International Ltd. ("Weatherford" or "the Company") common stock in the United States between March 2, 2011 and July 24, 2012, inclusive.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the following class has been certified in the above-captioned action (the "Action"):

All persons and entities that purchased or acquired Weatherford common stock in the United States between March 2, 2011 and July 24, 2012, inclusive, and who were damaged thereby (the "Class"). Excluded from the Class are: (i) Defendants; (ii) members of the immediate family of any Defendant; (iii) any person who was an officer or director of Weatherford during the Class Period; (iv) any firm, trust, corporation, officer, or other entity in which any Defendant has or 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 (vii) the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded party.  Also excluded from the Class is any person or entity that timely and validly requests exclusion from the Class.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THIS ACTION.  A full printed Notice of Pendency of Class Action is currently being mailed to known Class Members.  If you have not yet received a full printed Notice, you may obtain copies of this document by downloading it from www.Weatherford2012SecuritiesLitigation.com or by contacting the Administrator:

Freedman v. Weatherford International, Ltd., et al.
c/o GCG
P.O. Box 10177
Dublin, OH 43017-3177
(855) 382-6459

If you did not receive the Notice by mail, and you are a member of the Class, please send your name and address to the Administrator so that if any future notices are disseminated in connection with the Action, you will receive them.

Inquiries, other than requests for the Notice, may be made to Class Counsel:

Javier Bleichmar

BLEICHMAR FONTI

TOUNTAS & AULD LLP

7 Times Square, 27th Floor

New York, NY 10036

www.bftalaw.com

(888) 879-9418

Ira A. Schochet

LABATON SUCHAROW LLP

140 Broadway

New York, NY 10005

www.labaton.com

(888) 219-6877

 

If you are a Class Member, you have the right to decide whether to remain a member of the Class.  If you choose to remain a member of the Class, you do not need to do anything at this time other than retain your documentation reflecting your transactions in Weatherford common stock during the period from March 2, 2011 through and including July 24, 2012.  You will automatically be included in the Class and all orders or judgments in the Action will apply to you.  If you do not wish to remain a member of the Class, you must take steps to exclude yourself from the Class.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the proceedings in the Action, including all past, present and future orders and judgments of the Court, whether favorable or unfavorable.

If you ask to be excluded from the Class, you will not be bound by any order or judgment in the Action, but you will not be eligible to receive a share of any money which might be recovered for the benefit of the Class.  To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than July 6, 2015 in accordance with the instructions set forth in the full printed Notice.  Pursuant to Rule 23(e)(4) of the Federal Rules of Civil Procedure, it is within the Court's discretion whether to allow a second opportunity to request exclusion from the Class if there is a future settlement in the Action.  

Further information may be obtained by contacting the Administrator. 

Please Do Not Call the Court with Questions.

Dated:  May 15, 2015

BY ORDER OF THE COURT

United States District Court

Southern District of New York

 

SOURCE Labaton Sucharow LLP and Bleichmar Fonti Tountas & Auld LLP



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