BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Weatherford International plc (“Weatherford” or the “Company”) (OTC: WFTIQ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On October 29, 2018, the Company reported a loss of $199 million, or 20 cents per share, for third quarter 2018, signaling that Weatherford may be headed toward bankruptcy. However, the Company’s Chief Executive Officer reassured that these results were mere “bumps in the road.”
On this news, the Company’s stock price fell $0.44 per share, or over 22%, to close at $1.54 per share on October 29, 2018, thereby injuring investors.
Then, on May 10, 2019, the Company announced that it intended to file for Chapter 11 bankruptcy protection.
On this news, the Company’s stock price fell $0.31 per share, or more than 86%, to close at $0.05 per share on May 13, 2019, thereby injuring investors further.
If you purchased Weatherford common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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