LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming September 26, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Sable Offshore Corp. (“Sable” or the “Company”) (NYSE: SOC) securities between May 19, 2025 and June 3, 2025, inclusive (the “Class Period”), and/or pursuant and/or traceable to the Company’s May 21, 2025 secondary public offering (the “SPO”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON SABLE OFFSHORE CORP. (SOC), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On May 19, 2025, Sable announced that it had resumed oil production from one of three offshore platforms related for its Las Flores pipelines (“Onshore Pipeline”) in California.
Then, on May 23, 2025, the California State Land Commission sent Sable a letter regarding its May 19th announcement, warning that it “appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable’s intentions,” and that Sable had conflated offshore well testing activities required by a federal regulatory agency with the restart of operations.
Then, on May 28, 2025, the Santa Barbara County Superior Court approved a preliminary injunction from the California Coastal Commission regarding Sable’s maintenance and repair work in the coastal zone related to the Onshore Pipeline.
On this news, Sable’s stock price fell $5.04, or 15.3%, to close at $27.89 per share on May 28, 2025, thereby injuring investors.
Then, on June 4, 2025, Sable disclosed that a Santa Barbara County Superior Court Judge had granted “temporary restraining orders prohibiting [Sable] from restarting transportation of oil through the Las Flores Pipeline System.”
On this news, Sable’s stock price fell $0.94, or 3.9%, to close at $23.10 per share on June 4, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants represented that Sable Offshore Corp. had restarted oil production off the coast of California when it had not; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Sable securities between May 19, 2025 and June 3, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is September 26, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
