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ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Transocean

1. Faruqi & Faruqi explores legal claims against Transocean for alleged securities violations. 2. Investors may contact the firm to discuss potential claims and class action participation. 3. Transocean's asset sale announcement led to significant stock price drop of 8.86%. 4. Impairment charge from asset sales could reach up to $645 million for the company. 5. Investors are reminded of the upcoming February 24, 2025, lead plaintiff deadline.

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FAQ

Why Very Bearish?

The significant impairment and stock drop indicate serious operational issues.

How important is it?

The ongoing litigation and financial impairments directly affect investor confidence in RIG.

Why Short Term?

Immediate investor sentiment likely to be negative due to ongoing legal matters.

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RIG
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Transocean To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Transocean between October 31, 2023 and September 2, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Transocean Ltd. ("Transocean" or the "Company") (NYSE: RIG) and reminds investors of the February 24, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Discoverer Inspiration and the Development Driller III were considered non-strategic assets; (2) the Company's recorded asset valuations were overstated; (3) as a result, the Company would take nearly twice the vessels' sale price in impairment if sold; and (4) 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. On September 3, 2024, before the market opened, Transocean 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. On this news, the Company's share price fell $0.42, or 8.86%, to close at $4.32 per share on September 3, 2024, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Transocean's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Transocean Ltd. class action, go to www.faruqilaw.com/RIG or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. SOURCE Faruqi & Faruqi, LLP

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