#USA #New York #Pomerantz LLP #SOC #Sable Offshore

Pomerantz Law Firm Initiates Class Action Against Sable Offshore Corp

In a significant development for investors, Pomerantz LLP has announced the filing of a class action lawsuit against Sable Offshore Corp. (traded on NYSE under the symbol SOC). This legal action comes in light of serious allegations concerning possible securities fraud and other unlawful business practices attributed to Sable and certain of its executive officers or directors.

Background of the Case

The class action revolves around the events that unfolded recently, particularly surrounding Sable Offshore's operational announcements and the ensuing concerns raised by regulatory bodies. On May 19, 2025, Sable had proclaimed the resumption of oil production from one of its offshore platforms linked to its Las Flores pipelines in California. However, just days later, on May 23, a letter from the California State Land Commission criticized Sable's announcement, alleging that it misrepresented the company's recent operational activities. This letter came as a warning that Sable's communication could cause public confusion regarding its business intentions.

Moreover, on May 28, 2025, developments escalated as the Santa Barbara County Superior Court granted a preliminary injunction from the California Coastal Commission, preventing Sable from conducting maintenance and repair work in the coastal zone tied to the Onshore Pipeline. This legal blow significantly influenced Sable Offshore's stock price, which plummeted by $5.04 per share, representing a concerning 15.3% drop, closing at $27.89.

The situation did not stabilize. On June 4, 2025, further revelations surfaced when Sable filed a Form 8-K report with the U.S. Securities and Exchange Commission. This report disclosed that on June 3, the Santa Barbara County Superior Court had issued a temporary restraining order halting Sable's oil transportation through the Onshore Pipeline system. The immediate impact was a further decline in Sable’s share price, which dropped by $0.94, marking a decrease of 3.91%, and closing at $23.10.

How Investors Can Participate

Investors who have incurred losses in their investments in Sable Offshore Corp during this tumultuous time are urged to take action. Those wishing to join the class action and potentially become a Lead Plaintiff must do so by September 26, 2025. To express interest or to gather further details, investors can contact Danielle Peyton at Pomerantz LLP via phone or email. For those choosing to reach out by email, it is advisable to include your mailing address, phone number, and the number of Sable shares acquired.

A copy of the formal Complaint is accessible through Pomerantz LLP’s website, which provides comprehensive details regarding the class action, as well as essential instructions for potential claimants.

About Pomerantz LLP

Pomerantz LLP stands as a leading law firm recognized for its expertise in corporate, securities, and antitrust class actions. Founded by the legendary Abraham L. Pomerantz, the firm has upheld a rich tradition of advocating for victims of securities fraud and corporate misconduct for over 85 years. Pomerantz has secured numerous significant settlements and continues to champion investor rights in a landscape rife with challenges and complexities.

The firm serves clients from various locations, including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv. Legal representation from Pomerantz comes with a legacy of excellence and dedication, ensuring that investors' voices and rights are fiercely protected in the face of corporate wrongdoing.

For additional information, including future updates regarding the class action lawsuit against Sable Offshore Corp, interested parties are encouraged to visit Pomerantz LLP's official website.

Contact:
Danielle Peyton
Email: [email protected]
Phone: 646-581-9980, ext. 7980

As this case unfolds, it will be crucial for affected investors to stay informed and engaged to protect their investments effectively.