Weatherford Investors Say Disclosure Suit Rooted In Texas
Law360, Houston (May 15, 2019, 8:21 PM EDT) -- Weatherford International Ltd. shareholders told a Texas appellate court Wednesday that their derivative lawsuit alleging directors of the oil and gas services company lied in financial disclosures belongs in Texas because that's where the forms were signed.
In oral argument before the First Court of Appeals in Houston, shareholders Terry Neff and the Iron Workers Mid-South Pension Fund told the court that the disclosure forms at issue all state they were "executed in Houston," and that's enough to establish jurisdiction in state court.
The shareholders allege Weatherford's 10-K forms filed with the U.S. Securities and Exchange Commission for the years 2009 through...
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