NEW YORK, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Sable Offshore Corp. (“Sable” or the “Company”) (NYSE: SOC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Sable and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until September 26, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Sable securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On May 19, 2025, Sable announced that it had resumed oil production from one of three offshore platforms related to its Las Flores pipelines (the “Onshore Pipeline”) in California. Then, on May 23, 2025, the California State Land Commission sent Sable a letter regarding its May 19th announcement, warning that it “appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable’s intentions,” and that Sable had conflated offshore well testing activities required by a federal regulatory agency with the restart of operations. Then, on May 28, 2025, the Santa Barbara County Superior Court granted a preliminary injunction from the California Coastal Commission regarding Sable’s maintenance and repair work in the coastal zone related to the Onshore Pipeline.
On this news, Sable’s stock price fell $5.04 per share, or 15.3%, to close at $27.89 per share on May 28, 2025.
Then, on June 4, 2025, Sable filed a current report on Form 8-K with the U.S. Securities and Exchange Commission, disclosing that on June 3, 2025, the Santa Barara County Superior Court entered a temporary restraining order prohibiting Sable from restarting transportation of oil through the Onshore Pipeline system pending a hearing on July 18, 2025.
On this news, Sable’s stock price fell $0.94 per share, or 3.91%, to close at $23.10 per share on June 4, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
