Transocean Shareholders Urged to Act Before Deadlines on Class Action Lawsuits

Transocean Shareholder Alert

Filed by ClaimsFiler: Important Deadline for Investors
Transocean Ltd. (NYSE: RIG) shareholders who experienced losses exceeding $100,000 are being reminded of an impending deadline to submit lead plaintiff applications in class action lawsuits. According to ClaimsFiler, a free shareholder information service, affected investors have until February 24, 2025, to file their applications for participation in these lawsuits.

Background of the Lawsuits

Transocean is facing allegations that it and some of its executives failed to disclose crucial information during the class period which spanned from May 1, 2023, to September 2, 2024. These claims assert that the company violated federal securities laws by making false and misleading statements about its financial health and asset strategy.

Key Allegations Against Transocean

Specifically, the lawsuits focus on:
1. Misrepresentation of the Discoverer Inspiration and the Development Driller III as non-strategic assets.
2. Overstated valuations of the company’s recorded assets.
3. A significant expected impairment in asset values should the vessels be sold, which was not disclosed adequately to investors.

Following the disclosures made on September 3, 2024, announcing the sale of the aforementioned rigs for $342 million—resulting in an anticipated $645 million non-cash charge—Transocean's stock price fell by 8.86%, highlighting the immediate consequence of these alleged omissions and inaccuracies. The cases have drawn significant attention due to the potentially extensive financial ramifications for investors caught unaware by the company's statements.

How to Participate

For investors who wish to participate in the lawsuits or seek legal advice, they are encouraged to visit ClaimsFiler’s website at claimsfiler.com/cases/nyse-rig-2 or contact them toll-free at (844) 367-9658. Legal experts from Kahn Swick & Foti, LLC are available to discuss options and assist in navigating the legal landscape surrounding these actions. ClaimsFiler emphasizes that retail investors have a unique opportunity to reclaim losses through participation in these vital class actions.

About ClaimsFiler

ClaimsFiler operates on a mission to aid everyday investors in recovering their rightful share from securities class action settlements. Their platform enables users to easily access information about various active securities class actions, submit claims, and consult with legal professionals for free evaluations of their potential cases. More details can be found at ClaimsFiler.com.

Investors must act promptly to ensure their rights and interests are safeguarded as the deadline approaches. This serves as a crucial reminder of the importance of being informed and taking action within specified time frames in the often complex arena of securities litigation.