Sable Offshore(US:SOC) Globenewswire·2025-09-26 11:00Core Viewpoint - A class action lawsuit has been filed against Sable Offshore Corporation (SOC) for allegedly misleading investors regarding the resumption of oil production off the coast of California during a specific period in 2025 [5]. Allegation Details - The lawsuit claims that Sable Offshore conducted a secondary public offering (SPO) on May 21, 2025, issuing 10 million shares at $29.50 per share, raising $295 million [5]. - It is alleged that Sable misrepresented its operational status, claiming to have restarted oil production when it had not [5]. - A letter from California's Lieutenant Governor on May 23, 2025, indicated that Sable's press release mischaracterized its activities, causing public confusion and implying a resumption of operations that had not occurred [5]. - Following this letter, Sable's stock price fell by more than 15% [5]. - On June 4, 2025, it was revealed that a court had granted temporary restraining orders preventing Sable from restarting oil transportation, leading to further declines in stock price [5]. Next Steps - Investors who purchased Sable shares between May 19, 2025, and June 3, 2025, and suffered losses are encouraged to contact the law firm for more information and to discuss their legal rights [4][5]. - The deadline for investors to apply to be appointed as lead plaintiff in the lawsuit is September 26, 2025 [5].