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2014-02-03 16:38:00

WEATHERFORD WILL PAY $52,500,000.

WEATHERFORD WILL PAY $52,500,000.

Pursuant to the settlement, the Company will pay $52,500,000, all of which is covered by insurance, in exchange for dismissal with prejudice of the litigation and the unconditional release of all claims, known or unknown, that settlement class members brought or could have brought against the Company and individual defendants related to the facts and allegations in the litigation. As a condition of the settlement, the Company and the other defendants deny any liability or wrongdoing related to the allegations in the litigation.

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