Important Notice for Transocean Shareholders Regarding Class Action Lawsuit Deadlines

Important Information for Transocean Shareholders

In an urgent announcement, Kahn Swick & Foti, LLC (KSF), guided by former Louisiana Attorney General Charles C. Foti, Jr., has issued a reminder to shareholders of Transocean Ltd (NYSE: RIG). Investors who suffered losses exceeding $100,000 while purchasing Transocean securities between October 31, 2023, and September 2, 2024, are urged to take action before the impending deadline. Potential lead plaintiffs must file their applications in the class action lawsuit by February 24, 2025. The case is currently being processed in the United States District Court for the Southern District of New York.

Overview of the Class Action Lawsuit

This class action lawsuit asserts that Transocean and specific executives failed to disclose critical information during the specified class period, thereby violating federal securities laws. Allegations suggest that the company made several misleading statements, including the claim that certain assets, like the Discoverer Inspiration and the Development Driller III, were classified as non-strategic. Such omissions have raised concerns about the accuracy of the company's financial disclosures.

On September 3, 2024, Transocean disclosed its decision to sell off the Development Driller III and Discoverer Inspiration rigs for an aggregate of $342 million. This announcement coincided with the company's acknowledgment that this move would lead to a significant non-cash impairment charge of up to $645 million in the third quarter. The market reacted negatively to this news, with Transocean’s stock plummeting by 8.86%, ultimately closing at $4.32 per share on the same day.

What Affected Shareholders Should Do

Affected investors are encouraged to assess their legal options and understand the potential impact this lawsuit might have on their investments. Kahn Swick & Foti, LLC is positioned to help those who believe they qualify as lead plaintiffs. Interested parties can reach out to KSF Managing Partner Lewis Kahn at 1-877-515-1850 or via email at [email protected] for a no-cost consultation.

It’s crucial for shareholders to understand their rights and take appropriate measures to secure possible recoveries for financial losses linked to corporate misconduct.

About Kahn Swick & Foti, LLC

As a leading boutique law firm specializing in securities litigation, Kahn Swick & Foti, LLC has garnered a reputation for advocating on behalf of institutional and retail investors facing losses due to fraudulent activities by publicly traded companies. With offices across the United States, including locations in New York, Delaware, Louisiana, Chicago, and New Jersey, KSF remains dedicated to serving clients in their pursuit of justice and economic recovery.

For more information about Kahn Swick & Foti, visit their official website at www.ksfcounsel.com. Investors are reminded to act quickly and lodge their filings by the stipulated deadline of February 24, 2025 to protect their rights in this ongoing class action against Transocean Ltd.