U.S. Securities and Exchange Commission Approves the Plan of Distribution for the Weatherford Fair Fund

PORTLAND, Ore., June 24, 2024 /PRNewswire/ --

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

ADMINISTRATIVE PROCEEDING
File Nos. 3-17582 & 3-17628

In the Matter of Weatherford International PLC, f/k/a Weatherford International LTD., James Hudgins, CPA, and Darryl Kitay, CPA, Respondents.

In the Matter of Ernst & Young LLP, Craig R. Fronckiewicz, CPA, and Sarah E. Adams, CPA, Respondents.

TO: Individuals and entities, or their lawful successors, who purchased and/or acquired shares of Weatherford common stock ("Eligible Security") between February 25, 2009 and November 12, 2012, inclusive (the "Relevant Period").

The Commission's Orders arose out of substantially similar facts and occurred during substantially the same time period as the violations alleged in two related Class Actions:
In re Weatherford Int'l Sec. Litig., 11 Civ. 1646 (LAK) (JCF) (S.D.N.Y. Oct. 28, 2013) and Freedman v. Weatherford Int'l, No. 12 Civ. 2121, 2013 WL 5299137 (S.D.N.Y. Sept. 20, 2013) (the "Class Actions").

If you filed an approved claim in one or both of the Class Actions, you are automatically deemed a Claimant, but only with respect to the transactions that were approved in the Class Action(s) (the "Approved Transactions"). You do not need to submit another Proof of Claim to participate in the Fair Fund, unless you wish to amend your claim to include additional transactions or to provide new information or documents to cure any deficiencies determined in the Class Action(s) that were not cured. Additional transactional documentation may be requested.

If you filed a claim in one or both of the Class Actions and such claim was determined to be deficient and you failed to cure such deficiencies, you do not need to submit another Proof of Claim Form to participate in the Fair Fund as to your Deficient Transactions, unless you wish to amend your claim. You must, however, provide the required information and/or documentation to cure the deficiencies identified in connection with your Class Action claim in order to be eligible to receive a distribution from the Fair Fund for those Deficient Transactions. Additional transactional documentation may be requested.

If you purchased or acquired shares of the Eligible Security during the Relevant Period and did not file a claim in one or both of the Class Actions, you may be entitled to a recovery from the Fair Fund. You must submit a Proof of Claim Form to the address identified with the necessary documentation so that it is received by September 26, 2024 (the "Claims Bar Date") to be eligible to recover from the Weatherford SEC Fair Fund ("Fair Fund").

Copies of the Plan, Plan Notices, and the Proof of Claim Form are available on the Weatherford Fair Fund website at www.WeatherfordSECFairFund.com.

To qualify for a payment from the Weatherford Fair Fund, you must satisfy certain eligibility criteria that are described in detail in the Plan. The Plan is available on the Fair Fund website at www.WeatherfordSECFairFund.com and on the Commission's public website at http:/www.sec.gov/litigation/fairfundlist.htm. You can also request a copy of the Plan by calling the Fund Administrator at 1-800-581-1152 or by emailing [email protected]. The eligibility criteria include the following:

1. You must have purchased Weatherford common stock between February 25, 2009, and November 12, 2012.
2. Your approved transactions must calculate to a Recognized Loss as calculated under the Plan and your Distribution Payment must equal or exceed $10.00.
3. You are not identified as an Excluded Party as defined in the Plan.

THE DEADLINE TO SUBMIT A CLAIM FORM ELECTRONICALLY OR BY MAIL AT THE ADDRESS BELOW IS SEPTEMBER 26, 2024. PLEASE NOTE: THIS IS A "POSTMARKED" DEADLINE. PLEASE CHECK THE WEBSITE FREQUENTLY FOR UPDATES.

Weatherford Fair Fund
Fund Administrator
P.O. Box 10574
Dublin, OH 43017

URL: www.WeatherfordSECFairFund.com

SOURCE Epiq