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SOC Update: Lawsuit Alleges Sable Offshore Misled Investors on Oil Production – Hagens Berman
GlobeNewswire News Room· 2025-08-22 15:38
Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. for allegedly misrepresenting its oil production status, leading to significant investor losses during a specific period in 2025 [1][2]. Allegations and Regulatory Scrutiny - The lawsuit claims that Sable Offshore and its SPO underwriters misled investors by stating that oil production had resumed off the California coast, which was contradicted by California Lieutenant Governor Eleni Kounalakis, clarifying that the activities were merely "well-testing procedures" [2]. - Following the revelation, Sable Offshore's stock price dropped over 15% on May 28, 2025 [2]. Judicial Intervention and Further Stock Drop - On June 4, 2025, Sable Offshore disclosed a temporary restraining order from a Santa Barbara County Superior Court judge, preventing the company from restarting oil transportation through the Las Flores Pipeline System, which further impacted the stock price negatively [3]. Litigation Context - The lawsuit, Johnson v. Sable Offshore Corp., is being litigated in the U.S. District Court for the Central District of California, aiming to hold the company accountable for allegedly raising capital under false pretenses [4]. Investigation by Hagens Berman - Hagens Berman is investigating claims on behalf of investors who experienced substantial losses, suggesting that the press release may have been a tactic to inflate stock prices prior to the secondary offering [5]. - The firm encourages whistleblowers with non-public information regarding Sable Offshore to come forward, highlighting potential rewards under the SEC Whistleblower program [5].
Sable Offshore Corp. Sued for Securities Law Violations – Investors Should Contact The Gross Law Firm for More Information – SOC
GlobeNewswire News Room· 2025-08-21 19:17
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Sable Offshore Corp. regarding a class action lawsuit due to alleged misleading statements made by the company during a specific period [1][4]. Group 1: Class Action Details - The class period for the lawsuit is from May 19, 2025, to June 3, 2025, including transactions related to the company's secondary public offering on May 21, 2025 [3]. - Shareholders are encouraged to register for the class action by the deadline of September 26, 2025, to potentially be appointed as lead plaintiffs [5]. Group 2: Allegations Against Sable Offshore Corp. - The complaint alleges that Sable Offshore Corp. falsely claimed to have restarted oil production off the coast of California when it had not, leading to materially false and misleading statements about the company's business and operations [4]. - The lawsuit claims that when the true information was revealed, investors suffered damages due to the inflated stock price resulting from these misleading statements [4]. Group 3: Law Firm's Commitment - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights and ensuring companies adhere to responsible business practices [6].
Sable Offshore Corp. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - SOC
Prnewswire· 2025-08-21 12:45
Core Viewpoint - The Gross Law Firm has announced a class action lawsuit on behalf of shareholders of Sable Offshore Corp. (NYSE: SOC) who purchased shares during a specified class period, alleging that the company made materially false statements regarding its oil production activities [1][2]. Group 1: Allegations - The complaint claims that Sable Offshore Corp. falsely represented that it had restarted oil production off the coast of California when it had not, leading to misleading statements about the company's business and operations [2]. - As a result of these misleading statements, investors suffered damages when the true information became public [2]. Group 2: Class Action Details - The class period for the lawsuit is from May 19, 2025, to June 3, 2025, including a secondary public offering on May 21, 2025 [1]. - Shareholders are encouraged to register for the class action by September 26, 2025, to potentially be appointed as lead plaintiffs [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered due to deceit and illegal business practices, emphasizing the importance of responsible corporate behavior [4].
Sable Offshore Corp. Stock News: SOC Investors with Large Losses Should Contact Robbins LLP for Information About Leading the Class Action Lawsuit Against SOC
Prnewswire· 2025-08-20 21:30
Group 1 - A class action has been filed on behalf of investors who purchased Sable Offshore Corp. (NYSE: SOC) securities between May 19, 2025, and June 3, 2025, and/or traceable to the Company's May 21, 2025 secondary public offering [1] - The allegations state that Sable Offshore Corp. misled investors by claiming that oil production had restarted off the coast of California when it had not, leading to investor losses when the truth was revealed [2] - Shareholders interested in serving as lead plaintiff must submit their papers by September 26, 2025, and can remain absent class members if they choose not to participate [3] Group 2 - Robbins LLP operates on a contingency fee basis, meaning shareholders pay no fees or expenses for representation [4] - Robbins LLP has been dedicated to helping shareholders recover losses and improve corporate governance since 2002 [4]
Class Action Filed Against Sable Offshore Corp. (SOC) Seeking Recovery for Investors – Contact Levi & Korsinsky
GlobeNewswire News Room· 2025-08-19 20:08
Core Viewpoint - A class action securities lawsuit has been filed against Sable Offshore Corp. due to alleged securities fraud affecting investors who purchased shares between May 19, 2025, and June 3, 2025 [1][2] Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were misled by false statements regarding the company's oil production activities off the coast of California [3] - Allegations include that Sable Offshore Corp. falsely claimed to have restarted oil production when it had not, leading to materially false and misleading statements about the company's business and operations [3] Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 26, 2025, to request appointment as lead plaintiff, although participation does not require this role [4] - Class members may be entitled to compensation without any out-of-pocket costs or fees [4] Group 3: Legal Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [5] - The firm has been recognized in the Top 50 Report by ISS Securities Class Action Services for seven consecutive years, highlighting its expertise in complex securities cases [5]
Sable Offshore Corp. Class Action: Levi & Korsinsky Reminds Sable Offshore Corp. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 26, 2025 - SOC
Prnewswire· 2025-08-19 12:45
Core Viewpoint - A class action securities lawsuit has been filed against Sable Offshore Corp. due to alleged securities fraud affecting investors who purchased shares between May 19, 2025, and June 3, 2025, and those involved in the Company's secondary public offering on May 21, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Sable Offshore Corp. misrepresented its operational status, specifically that it had restarted oil production off the coast of California when it had not [3]. - Allegations include that the defendants' statements regarding the Company's business, operations, and prospects were materially false and misleading, lacking a reasonable basis [3]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 26, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [4]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [4]. Group 3: Legal Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States, with over 20 years of experience [5].
The Gross Law Firm Notifies Shareholders of Sable Offshore Corp. (SOC) of a Class Action Lawsuit and an Upcoming Deadline
GlobeNewswire News Room· 2025-08-18 20:00
Core Viewpoint - A class action lawsuit has been initiated against Sable Offshore Corp. for allegedly issuing false and misleading statements regarding its oil production activities off the coast of California, impacting investor confidence and stock value [4]. Group 1: Lawsuit Details - The lawsuit is on behalf of individuals or entities that purchased Sable Offshore securities between May 19, 2025, and June 3, 2025, including those involved in the company's secondary public offering on May 21, 2025 [3]. - Allegations include that Sable Offshore falsely claimed to have restarted oil production when it had not, leading to materially misleading statements about the company's business and operations [4]. - The deadline for shareholders to register for the class action is September 26, 2025, and participation does not require appointment as lead plaintiff [5]. Group 2: Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud, aiming to ensure responsible business practices [6].
Lost Money on Sable Offshore Corp.(SOC)? Join Class Action Suit Seeking Recovery - Contact The Gross Law Firm
Prnewswire· 2025-08-18 12:45
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Sable Offshore Corp. regarding a class action lawsuit due to alleged misleading statements made by the company during a specific period [1][2]. Group 1: Allegations - The complaint alleges that Sable Offshore Corp. falsely claimed to have restarted oil production off the coast of California when it had not, leading to materially false and misleading statements about the company's business and operations [2]. - The lawsuit claims that investors suffered damages when the true details about the company's operations were revealed [2]. Group 2: Class Action Details - The class period for the lawsuit is from May 19, 2025, to June 3, 2025, and includes those who purchased shares during this timeframe or participated in the company's secondary public offering on May 21, 2025 [1][3]. - Shareholders are encouraged to register for the class action by September 26, 2025, to potentially be appointed as lead plaintiffs, although this is not required to participate in any recovery [3]. Group 3: Law Firm's Mission - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [4]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by false or misleading statements that artificially inflated stock prices [4].
ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Sable Offshore Corp. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – SOC
GlobeNewswire News Room· 2025-08-17 12:03
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Sable Offshore Corp. securities during the specified Class Period and secondary public offering about the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who purchased Sable securities between May 19, 2025, and June 3, 2025, or through the May 21, 2025, secondary public offering may be eligible for compensation without upfront costs [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 26, 2025 [3][5]. - The lawsuit alleges that Sable made materially false statements regarding its oil production activities, which misled investors about its business operations and prospects [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time, and has consistently ranked highly in securities class action settlements since 2013 [4]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering funds for clients [4].
DEADLINE ALERT for FLYW, LMT, SOC, NVO: Law Offices of Howard G. Smith Reminds Investors of Opportunity to Lead Securities Fraud Class Actions
GlobeNewswire News Room· 2025-08-15 17:13
Core Viewpoint - Class action lawsuits have been filed on behalf of shareholders of several publicly-traded companies, with specific deadlines for filing lead plaintiff motions [1] Company Summaries Flywire Corporation (NASDAQ: FLYW) - Class Period: February 28, 2024 – February 25, 2025 - Lead Plaintiff Deadline: September 23, 2025 - Allegations include overstating revenue growth sustainability, underestimating the impact of permit and visa restrictions, and misleading positive statements about business operations [2] Lockheed Martin Corporation (NYSE: LMT) - Class Period: January 23, 2024 – July 21, 2025 - Lead Plaintiff Deadline: September 26, 2025 - Allegations include lack of effective internal controls, inaccurate program reviews, overstated contract delivery capabilities, and misleading positive statements about business prospects [3] Sable Offshore Corp. (NYSE: SOC) - Class Period: May 19, 2025 – June 3, 2025 - Lead Plaintiff Deadline: September 26, 2025 - Allegations include false claims about restarting oil production and misleading positive statements regarding business operations [4] Novo Nordisk A/S (NYSE: NVO) - Class Period: May 7, 2025 – July 28, 2025 - Lead Plaintiff Deadline: September 30, 2025 - Allegations include ignoring the significance of personalization exceptions for GLP-1 compounding and misleading statements about the company's ability to capture patient populations [5]