Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of Sable Offshore Corp. who purchased shares between May 19, 2025 and June 3, 2025.
Sable Offshore and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 4, 2025, the Company disclosed that “a Santa Barbara County Superior Court Judge granted ex parte requests from plaintiffs in Center for Biological Diversity, et al. v. California Department of Forestry and Fire Protection, et al. (25CV02244) and Environmental Defense Center, et al. v. California Department of Forestry and Fire Protection, et al. (25CV02247) for temporary restraining orders prohibiting Sable Offshore Corp. from restarting transportation of oil through the Las Flores Pipeline System pending the hearing on an order to show cause regarding a preliminary injunction scheduled for July 18, 2025. Sable is exploring all possible avenues available to address these preliminary rulings.”
On this news, the price of Sable’s shares fell by $0.94 per share, or 3.91%, to close at $23.10 on June 4, 2025.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 26, 2025 to request that the court appoint them lead plaintiff.