Shareholder Rights Law Firm Robbins LLP Reminds Stockholders of the RIG Class Action and Urges Investors with Large Losses to Contact the Firm for Information About Participating in the Case

1. Robbins LLP filed a class action against Transocean Ltd. for misleading investors. 2. Allegations include overstated asset valuations and misleading statements about business prospects. 3. The company's share price fell 8.86% after the truth was revealed. 4. Shareholders can participate in the lawsuit; lead plaintiff application deadline is February 2025. 5. Robbins LLP specializes in shareholder rights litigation since 2002.

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FAQ

Why Bearish?

The revelations of misleading statements and overvalued assets create negative sentiment. Similar past cases have resulted in significant stock price drops.

How important is it?

The article outlines serious allegations that could affect RIG's stock performance. Legal actions often impact investor confidence significantly.

Why Short Term?

The immediate effect on share price is likely, given recent revelations. Long-term implications depend on the lawsuit's outcome.

Related Companies

RIG

SAN DIEGO, Jan. 9, 2025 /PRNewswire/ --

Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Transocean Ltd. (NYSE: RIG) securities between October 13, 2023 and September 2, 2024. Transocean, together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations:

Robbins LLP is Investigating Allegations that Transocean Ltd. (RIG) Misled Investors Regarding its Business Prospects

According to the complaint, during the class period, defendants failed 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. Plaintiff alleges that when the truth was revealed, 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.

What Now:

You may be eligible to participate in the class action against Transocean Ltd. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 26, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP:

A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

To be notified if a class action against Transocean Ltd. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

SOURCE Robbins LLP