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Weatherford to Pay $140 mln in Accounting Fraud Case -SEC

Posted by September 27, 2016

Oil services company Weatherford International LLC has agreed to a $140 million penalty to settle charges it inflated its earnings by using deceptive income tax accounting, the U.S. Securities and Exchange Commission said on Tuesday.
 
The company, in settling the case, neither admitted nor denied the SEC's allegations, the agency said.
 
(Reporting by Suzanne Barlyn)

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