SAN FRANCISCO, Sept. 19, 2025 (GLOBE NEWSWIRE) -- A securities class-action lawsuit has been filed against Sable Offshore Corp. (NYSE: SOC) and its executives, alleging the company misled investors about the restart of its oil production off the California coast. The litigation, filed in California federal court, claims the company used a false press release to artificially inflate its stock price just before a secondary public offering (SPO), resulting in significant investor losses. Hagens Berman urges Sa ...

Group 1 - A class action securities lawsuit has been filed against Sable Offshore Corp. [1]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Sable Offshore Corp. securities during the specified Class Period or through the secondary public offering about the upcoming lead plaintiff deadline for a securities class action lawsuit [1][2]. Group 1: Class Action Details - The Class Period for the securities class action is defined as between May 19, 2025, and June 3, 2025, inclusive [1]. - Investors who purchased Sable securities during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must file a motion with the Court by September 26, 2025, to represent other class members in the litigation [3]. Group 2: Case Allegations - The lawsuit alleges that Sable Offshore Corp. made materially false and misleading statements regarding its oil production activities off the coast of California, claiming it had restarted production when it had not [5]. - As a result of these misleading statements, the lawsuit claims that investors suffered damages when the true information became public [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4].

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 and misleading 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 materially misleading statements about the company's business and operations [2]. - The lawsuit asserts that when the true information became public, investors suffered damages due to the inflated stock price resulting from these misleading statements [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as May 19, 2025, to June 3, 2025, inclusive, including shares purchased during the company's 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, although this is not required to participate in any recovery [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered losses due to deceit 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 [4].

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Core Viewpoint - A securities class-action lawsuit has been filed against Sable Offshore Corp. and its executives for allegedly misleading investors regarding the restart of oil production, which led to significant investor losses [1][2]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., represents investors who purchased shares between May 19, 2025, and June 3, 2025, including those who participated in the secondary public offering on May 21, 2025 [2]. - Sable Offshore issued a press release on May 19 claiming it had restarted oil production, which was later challenged by California's Lieutenant Governor, stating that the activities were only "well-testing procedures" [2]. - The alleged deception was revealed on May 28, 2025, when the Lieutenant Governor's letter became public, causing Sable's stock price to drop by over 15% [3]. - On June 4, 2025, a Santa Barbara County Superior Court judge issued a temporary restraining order against Sable, prohibiting oil transportation through the Las Flores Pipeline System, further impacting the stock price [3]. Group 2: Legal and Investigative Actions - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for raising capital under false pretenses [4]. - Hagens Berman, a national shareholder rights firm, is investigating the claims and assessing whether the company's statements about oil production and subsequent judicial actions were part of a pattern of misleading behavior [5]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program [5].

Core Viewpoint - A securities class-action lawsuit has been filed against Sable Offshore Corp. and its executives, alleging that the company misled investors regarding the restart of its oil production, which led to significant investor losses [1][2]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., represents investors who purchased shares between May 19, 2025, and June 3, 2025, including those who participated in the secondary public offering on May 21, 2025 [2]. - Sable Offshore issued a press release on May 19 claiming it had restarted oil production, which was later challenged by California's Lieutenant Governor, stating that the activities were only "well-testing procedures" [2]. - The alleged deception was exposed on May 28, 2025, when the Lieutenant Governor's letter became public, causing Sable's stock price to plummet by over 15% [3]. Group 2: Impact on Stock and Legal Consequences - Following the exposure of the misleading statements, a Santa Barbara County Superior Court judge issued a temporary restraining order on June 4, 2025, prohibiting Sable from transporting oil through the Las Flores Pipeline System, leading to further declines in the stock price [3]. - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for allegedly raising capital under false pretenses [4]. Group 3: Investigation and Whistleblower Information - Hagens Berman, a national shareholder rights firm, is investigating the claims against Sable Offshore, focusing on whether the company's statements about oil production and subsequent judicial intervention were part of a pattern of misleading behavior [5]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to consider their options to assist in the investigation or participate in the SEC Whistleblower program, which offers rewards for original information [5].

Core Viewpoint - Sable Offshore Corp. is facing a class action lawsuit due to alleged misrepresentations regarding its oil production status during a secondary public offering, which has resulted in significant financial losses for investors [3][4][7]. Group 1: Class Action Details - The class action lawsuit represents investors who purchased Sable Offshore securities between May 19, 2025, and June 3, 2025 [1]. - Investors have until September 26, 2025, to file a lead plaintiff motion [1]. - The lawsuit claims that Sable Offshore issued 10 million shares at $29.50 per share, raising $295 million [3]. Group 2: Allegations of Misrepresentation - The lawsuit alleges that Sable Offshore falsely claimed it had resumed oil production off the coast of California during the Class Period [4]. - A letter from California's Lieutenant Governor expressed concerns that Sable Offshore's press release mischaracterized its activities, leading to public confusion [5]. - Following the release of this letter, Sable Offshore's stock price dropped by over 15% [5]. Group 3: Legal Developments - On June 4, 2025, Sable Offshore disclosed that a court had granted temporary restraining orders preventing it from restarting oil transportation through the Las Flores Pipeline System [6]. - This disclosure further impacted the stock price negatively, as detailed in the class action lawsuit [6]. Group 4: Legal Representation - The Portnoy Law Firm is representing investors in pursuing claims against Sable Offshore for the alleged corporate wrongdoing [7]. - The firm has a history of recovering over $5.5 billion for aggrieved investors [7].

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]. Class Period - The class period for the lawsuit is defined as May 19, 2025, to June 3, 2025, which includes transactions related to the company's secondary public offering on May 21, 2025 [3]. Allegations - The complaint alleges that Sable Offshore Corp. falsely claimed to have restarted oil production off the coast of California, which was not the case. This misrepresentation led to materially false and misleading statements about the company's business and operations [4]. Deadline and Next Steps - Shareholders are encouraged to register for the class action by September 26, 2025, to participate in potential recovery. Registration will also provide access to portfolio monitoring software for status updates on the case [5]. Law Firm's Commitment - The Gross Law Firm is dedicated to protecting investors' rights and ensuring companies adhere to responsible business practices. The firm aims to recover losses incurred by investors due to false or misleading statements from companies [6].

Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. and its executives, alleging misrepresentation of oil production status to investors, which led to an artificial inflation of stock price prior to a secondary public offering [1][6]. Group 1: Lawsuit Details - The lawsuit, Johnson v. Sable Offshore Corp., involves investors who purchased Sable Offshore securities between May 19, 2025, and June 3, 2025, including those who bought shares in the May 21, 2025, secondary public offering [2]. - The complaint states that Sable Offshore issued a misleading press release on May 19, 2025, claiming a restart of oil production, which was later challenged by California Lieutenant Governor Eleni Kounalakis, clarifying that the activities were merely well-testing procedures [3]. - Following the public disclosure of the Lieutenant Governor's letter on May 28, 2025, Sable Offshore's stock price dropped over 15% as the market recognized the inaccuracies in the company's statements [4]. Group 2: Legal and Financial Implications - On June 4, 2025, Sable Offshore faced further legal issues when a Santa Barbara County Superior Court judge issued a temporary restraining order preventing the company from restarting oil transportation through the Las Flores Pipeline System, leading to additional stock price declines [5]. - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for raising capital under false pretenses, resulting in significant investor losses [6]. Group 3: Investigation and Whistleblower Information - Hagens Berman is investigating the claims on behalf of investors who have suffered substantial losses, focusing on whether the company's public statements accurately reflected its operational reality [7]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to assist in the investigation or utilize the SEC Whistleblower program, which offers rewards of up to 30% of any successful recovery made by the SEC [7].