#United States #New York #Class Action #Levi Korsinsky #Transocean Ltd

Class Action Lawsuit Against Transocean Ltd.

On February 14, 2025, Levi & Korsinsky, LLP announced a class action lawsuit targeting investors of Transocean Ltd. (NYSE: RIG). This legal action arises from allegations of securities fraud that occurred between May 1, 2023, and September 2, 2024. Investors who believe they have suffered losses during this period are encouraged to act quickly, as the deadline to join the class action is February 24, 2025.

Background on the Lawsuit

The class action complaint alleges that Transocean Ltd. engaged in deceptive practices that misrepresented the company's financials and prospects. Specifically, the lawsuit claims that the company failed to disclose critical information related to the valuation of its oil rigs, Discoverer Inspiration and Development Driller III, which were viewed as non-strategic assets. As such, the recorded asset valuations were purportedly inflated, leading investors to believe in a stronger financial standing than what truly existed.

Consequently, should these vessels be sold, the company would be forced to accept significant impairment losses—almost double their sale price. This revelation could drastically alter investors' perceptions, confirming that earlier statements by the company's executives lacked a reasonable basis and were materially misleading.

Next Steps for Investors

Investors in Transocean Ltd. have until February 24, 2025, to apply for lead plaintiff status in this case. Even if they do not wish to take on the role of lead plaintiff, those who qualify may still pursue a share in any financial recovery resulting from the lawsuit without incurring any personal costs or fees. Levi & Korsinsky ensures that participation in this class action does not require significant out-of-pocket expenses, making it accessible for investors from various backgrounds.

Why Choose Levi & Korsinsky

Levi & Korsinsky has built a robust reputation over the past two decades, securing substantial settlements for shareholders impacted by corporate misconduct. Their accomplishments in handling complex securities litigation have earned them a spot in ISS Securities Class Action Services' Top 50 Report multiple times over the last seven years. With a dedicated team of over 70 professionals, the firm is distinctly equipped to navigate the intricacies of class action lawsuits and deliver results for its clients.

Contact Information

For further inquiries about the lawsuit or to join the proceedings, investors are encouraged to contact the firm directly:
Joseph E. Levi, Esq.
Email: [email protected]
Phone: (212) 363-7500
Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
More details can also be found at the firm's website: www.zlk.com

This class action presents a critical opportunity for affected investors of Transocean Ltd. to seek justice and recovery for their financial losses. With a high-profile legal team and a commitment to accountability, the case underscores the ongoing challenges in corporate governance and the protection of shareholders' interests.