{"id":90314,"date":"2025-02-12T03:50:06","date_gmt":"2025-02-12T03:50:06","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/transocean-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick-foti-llc-reminds-investors-with-losses-in-excess-of-100000-of-lead-plaintiff-deadline-in-class-action-lawsuits-agains\/"},"modified":"2025-02-12T03:50:06","modified_gmt":"2025-02-12T03:50:06","slug":"transocean-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick-foti-llc-reminds-investors-with-losses-in-excess-of-100000-of-lead-plaintiff-deadline-in-class-action-lawsuits-agains","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/transocean-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick-foti-llc-reminds-investors-with-losses-in-excess-of-100000-of-lead-plaintiff-deadline-in-class-action-lawsuits-agains\/","title":{"rendered":"TRANSOCEAN SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuits Against Transocean Ltd. – RIG"},"content":{"rendered":"
\n

NEW ORLEANS, Feb. 11, 2025 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (\u201cKSF\u201d) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 24, 2025<\/u><\/strong> to file lead plaintiff applications in securities class action lawsuits against Transocean Ltd. (the \u201cCompany\u201d) (NYSE: RIG), if they purchased the Company\u2019s securities between May 1, 2023 and September 2, 2024, inclusive (the \u201cClass Period\u201d). These actions are pending in the United States District Court for the Southern District of New York.<\/p>\n

What You May Do<\/p>\n

If you purchased securities of Transocean and would like to discuss your legal rights and how the case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com<\/a>), or visit https:\/\/www.ksfcounsel.com\/cases\/nyse-rig\/<\/a> to learn more. If you wish to serve as a lead plaintiff in this class actions, you must petition the Court by February 24, 2025<\/u><\/strong>.<\/p>\n

About the Lawsuits<\/p>\n

Transocean and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (1) the Discoverer Inspiration and the Development Driller III were considered non-strategic assets; (2) the Company\u2019s recorded asset valuations were overstated; (3) as a result, the Company would take nearly twice the vessels\u2019 sale price in impairment if sold; and (4) as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

On September 3, 2024, pre-market, the Company disclosed that it had agreed to sell the Development Driller III and the Discoverer Inspiration rigs and associated assets for an aggregate $342 million \u201cas part of the Company\u2019s effort to dispose of non-strategic assets,\u201d which would result in an estimated third-quarter non-cash charge of up to $645 million associated with the impairment of said assets. On this news, the price of Transocean\u2019s shares fell $0.42, or 8.86%, to close at $4.32 per share on September 3, 2024, on unusually heavy trading volume.<\/p>\n

The case is G\u00e1bor v. Transocean Ltd., et al.<\/em>, No. 24-cv-9964. A subsequently filed case, Matteson<\/em> v. Transocean Ltd., et al.<\/em>, No. 25-cv-1112, expanded the class period.<\/p>\n

About Kahn Swick & Foti, LLC<\/p>\n

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation\u2019s premier boutique securities litigation law firms. KSF serves a variety of clients \u2013 including public institutional investors, hedge funds, money managers and retail investors \u2013 in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.<\/p>\n

To learn more about KSF, you may visit www.ksfcounsel.com<\/a>.<\/p>\n

Contact:<\/p>\n

Kahn Swick & Foti, LLC<\/p>\n

Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com<\/a><\/u>
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

NEW ORLEANS, Feb. 11, 2025 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (\u201cKSF\u201d) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 24, 2025 to file lead plaintiff applications in securities class action lawsuits against Transocean Ltd. (the \u201cCompany\u201d) (NYSE: RIG), if they purchased […]<\/p>\n","protected":false},"author":2,"featured_media":90315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/0434ab48-35bf-4861-9c2d-0da59f482cf0","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-90314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/90314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=90314"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/90314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/90315"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=90314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=90314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=90314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}