September 27, 2016
Weatherford International PLC (f/k/a Weatherford International Ltd.), James Hudgins, Darryl Kitay
SANCTION AMOUNT: $140,364,067
Defendants: Weatherford International PLC (f/k/a Weatherford International Ltd.)
James Hudgins, Darryl Kitay
Settlement of charges that earnings of Respondent company were inflated by $100 million to $154 million each year between 2007-2012 by fraudulently lowering year-end provisions for income taxes, so that the company could better align its earnings results with its earlier-announced projections and analysts expectations.
- Key Docs
- Official SEC press release