Weatherford International Ltd. (NYSE:WFT)
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Weatherford International provides equipment and services used for drilling oil and natural gas.
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Weatherford International provides equipment and services used for drilling oil and natural gas.
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Why would you buy a company under investigation by the SEC, department of justice, the department of commerce and the US treasury?
http://www.law.com/jsp/cc/PubArticleCC.jsp?id=1202462978969
Cuba, Iran, Sudan & Syria - these are designated state sponsors of terrorism. They are also places that Weatherford liked to do business. In addition they are under investigation for FCPA violations using a subsidiary in Europe.
Even if you are morally OK with owning this stock, perhaps you should consider that the fines resulting from these investigations could reach hundreds of millions. Perhaps that has something to do with the $1.75B revolving credit facility Weatherford signed with JP Morgan.