A securities class action has been filed against Transocean Ltd. (RIG) on behalf of all investors who purchased or otherwise acquired Transocean securities between May 1, 2023 through September 2, 2024. This case has been filed in the USDC – SDNY.
According to the Complaint, the Company made false and misleading statements to the market. Transocean’s Discoverer Inspiration and Development Driller III were not considered strategic assets. The Company overstated its recorded asset valuations. The Company would be forced to take nearly twice the sale price of the vessels in impairment if they were sold. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Transocean, investors suffered damages.