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Kirby McInerney LLP Announces Investigation Against Sable Offshore Corp. (SOC) on Behalf of Investors

1. Kirby McInerney LLP investigates Sable Offshore for possible securities law violations. 2. Sable resumed oil production at a California offshore platform on May 15, 2025. 3. Sable completed a public offering of 8.7 million shares at $29.50 each. 4. California officials expressed concerns over Sable's press release regarding operations. 5. Sable's stock fell 15% following a court injunction related to its activities.

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FAQ

Why Bearish?

The stock price has already reacted negatively to the investigation and regulatory concerns, indicating further downward pressure. Historical examples show similar investigations often lead to sustained stock declines (e.g., Enron, Nortel).

How important is it?

The investigation is significant and could draw substantial media attention, impacting investor sentiment. Financial implications are likely due to the ongoing legal issues and stock performance.

Why Short Term?

Regulatory actions and investigations typically impact market perception quickly. The immediate reactions observed in stock price suggest ongoing volatility in the short run.

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NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Sable Offshore Corp. (“Sable” or the “Company”) (NYSE:SOC). The investigation concerns whether Sable and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [LEARN MORE ABOUT THE INVESTIGATION] On May 19, 2025, Sable announced that it had resumed oil production from one of three offshore platforms related to its Las Flores pipeline (the “Onshore Pipeline”) in California as of May 15, 2025. On May 21, 2025, Sable announced the pricing of its previously announced underwritten public offering of 8,695,654 shares of its common stock, by the Company at a price to the public of $29.50 per share (the “Public Offering”). The Company subsequently announced the closing of the Public Offering on May 23, 2025, with gross proceeds of approximately $295 million. On May 23, 2025, the California State Land Commission sent Sable a letter warning the Company that, “The [May 19] press release appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable’s intentions.” According to the letter, Sable had conflated offshore well testing activities required by a federal regulatory agency with the restart of operations. Then, on May 28, 2025, the Santa Barbara County Superior Court approved a preliminary injunction requested by the California Coastal Commission regarding Sable’s maintenance and repair work in the coastal zone related to its Onshore Pipeline. On this news, the price of Sable declined by $5.04 per share, or approximately 15%, from $32.93 per share on May 27, 2025, to close at $27.89 on May 28, 2025. If you purchased or otherwise acquired Sable securities, have information, or would like to learn more about this investigation, contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you. [CONTACT US] Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. ContactsKirby McInerney LLPLauren Molinaro212-371-6600https://www.kmllp.cominvestigations@kmllp.com

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