WASHINGTON (Dow Jones Newswires) - A lawsuit was filed against Nabors Industries Inc. (NBR) in an effort to block the company's proposed change of incorporation to Bermuda from Delaware, according to amended proxy materials filed yesterday with the Securities and Exchange Commission.

The purported class-action lawsuit was filed on May 23 in the US District Court of the Southern District of Texas by shareholder Steven Rosenberg.

The lawsuit seeks to obtain a preliminary and permanent injunction against the stockholder vote regarding the reorganisation and to obtain monetary damages. Nabors announced its plan to reincorporate into Bermuda in the hope that it would "result in greater operational flexibility" and "greater access to international capital markets," while helping the company's tax position and cash management.

Shareholders will vote on the reincorporation at a special meeting scheduled for June 14. In March, a group of shareholders said they were considering voting against the plan because of concerns about reductions in shareholder rights and doubts over the economic benefits of the reincorporation.

The recent lawsuit consists of four counts against the company and its board.

In one count, the plaintiff alleged that Nabors' proxy statement contained misleading statements and omissions, including allegations about the risks that the reorganisation won't result in favourable tax treatment because Nabors Bermuda and Nabors Delaware will be operated from the US.