NEWTOWN, Pa., June 20, 2025 /PRNewswire/ — Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving Sable Offshore Corp. (“Sable”) (NASDAQ: SOC), resulting from allegations of providing potentially misleading business information to the investing public.
If you have non-public information that could assist in the Sable investigation, or if you are a Sable investor who suffered a loss and would like to learn more, you can provide your information HERE.
Sable Offshore Corp. is an independent oil and gas company operating oil drilling platforms in the Santa Ynez Unit off the coast of Santa Barbara, California.
On May 23, 2025, the California State Land Commission sent Sable a warning letter alleging the company’s May 19 press release conflated offshore well testing activities required by a federal regulatory agency with the resumption of full-scale drilling operations. The Land Commission’s warning letter asserted the company’s press release “mischaracterize[d] the nature of recent activities, caus[ed] significant public confusion and rais[ed] questions regarding Sable’s intentions.”
Shortly after the Land Commission issued the warning letter, the California Coastal Commission filed a preliminary injunction against Sable regarding maintenance and repair work on the company’s onshore pipeline system along the Santa Barbara coastline. The Santa Barbara County Superior Court approved the preliminary injunction on May 28, 2025, and Sable stock declined by $5.04 per share, or approximately 15%, from $32.93 per share on May 27, 2025, to close at $27.89 per share on May 28, 2025.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft, data security, and consumer fraud.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: http://www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
