Pomerantz Law Firm Files Class Action Against Sable Offshore Corp. Over Alleged Securities Fraud

Investor Alert: Class Action Lawsuit Against Sable Offshore Corp.

In a significant development for investors, Pomerantz LLP has announced the initiation of a class action lawsuit against Sable Offshore Corp. (NYSE: SOC). This lawsuit comes in response to allegations of securities fraud and other unlawful business practices. Investors who have faced financial losses due to Sable's recent activities are urged to take note of the upcoming deadlines for participation in the class action.

Details of the Class Action

The class action lawsuit is focused on whether Sable and some of its officers or directors have engaged in practices that misled investors regarding their business operations. An alarming announcement on May 19, 2025, from Sable indicated a resumption of oil production from offshore platforms related to their Las Flores pipelines. However, this was soon met with a warning from the California State Land Commission, which pointed out inaccuracies in Sable's claims and raised serious questions about their operational intentions

The situation continued to unravel when, on May 28, the Santa Barbara County Superior Court issued a preliminary injunction from the California Coastal Commission, limiting Sable's maintenance and repair work associated with the Onshore Pipeline. Following these revelations, Sable's stock plummeted, closing at $27.89 per share, a decrease of 15.3% from the previous close.

On June 4, further complications arose when Sable disclosed in a current report that the same court had issued a temporary restraining order that prohibited the company from restarting the transportation of oil through their Onshore Pipeline system. Following this news, Sable's share price further declined by 3.91% to end the day at $23.10.

Important Deadlines for Investors

Investors who acquired Sable securities during the class period are encouraged to act promptly. To be considered for the role of Lead Plaintiff in the lawsuit, individuals must register by September 26, 2025. Those wishing to engage in this process should contact Danielle Peyton at Pomerantz LLP at [email protected] or call 646-581-9980. It's essential for interested parties to provide their mailing address, phone number, and the number of shares they purchased when making inquiries.

Pomerantz LLP, known for its expertise in corporate, securities, and antitrust class action litigation, boasts over 85 years of history advocating for shareholders. Founded by Abraham L. Pomerantz, widely regarded as a pioneer in securities class actions, the firm continues to uphold this legacy, having successfully recovered substantial damages for its clients. For further details regarding this lawsuit or to access the complaint, investors can visit www.pomerantzlaw.com.

Conclusion

As the situation around Sable Offshore Corp. unfolds, investors are advised to remain vigilant. The outcome of this class action could have significant implications for shareholders looking for justice in the wake of alleged misconduct. Pomerantz LLP's reputation as a leader in class action litigation further assures investors of a committed pursuit of their rights in these troubling circumstances.