Lawsuit filed for Investors who lost money with shares of Transocean Ltd. (NYSE: RIG)

An investor, who purchased shares of Transocean Ltd. (NYSE: RIG), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Transocean Ltd. in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of Transocean Ltd. (NYSE: RIG) between October 31, 2023 and September 2, 2024, have certain options and for certain investors are short and strict deadlines running. Deadline: February 24, 2025. NYSE: RIG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Switzerland based Transocean Ltd. together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide.

On September 3, 2024, Transocean Ltd. announced "as part of the Company's effort to dispose of non-strategic assets" it had agreed to sell the Development Driller III and the Discoverer Inspiration and associated assets for an aggregate $342 million. The Company further announced that the sales would result in an estimated third-quarter non-cash charge of up to $645 million associated with the impairment of said assets. Otherwise stated, the Company's expected proceeds from the sale of the Development Driller III and the Discoverer Inspiration, was only approximately half the impairment the Company was required to take for the sale.

Shares of Transocean Ltd. (NYSE: RIG) declined from $6.88 per share on April 08, 2024, to as low as $3.43 per share on December 23, 2024.

According to the complaint the plaintiff alleges on behalf of purchasers of Transocean Ltd. (NYSE: RIG) common shares between October 31, 2023 and September 2, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 31, 2023 and September 2, 2024, , Defendants failed to disclose to investors that the Discoverer Inspiration and the Development Driller III were considered non-strategic assets, that the Company's recorded asset valuations were overstated, that as a result, the Company would take nearly twice the vessels' sale price in impairment if sold, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Transocean Ltd. (NYSE: RIG) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.