Faruqi & Faruqi Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $75,000 at Transocean to contact him directly to discuss their options.

If you suffer losses exceeding $75,000 Across the ocean Between October 31, 2023 and September 2, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 4, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against… TRANSOCEAN LIMITED (New York Stock Exchange:). (“Transocean” or the “Company”) (NYSE: RIG) and reminds investors of February 24, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company 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 the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Discoverer Inspiration and Development Driller III were deemed non-strategic assets; (2) valuations of the company’s recorded assets were overstated; (3) as a result, the Company would be charged approximately double the selling price of the vessels 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 efforts to dispose of non-strategic assets” that it had agreed to sell Development Driller III, Discoverer Inspiration and associated assets for a total consideration of $342 million. The company also announced that the sales will result in an estimated non-cash charge in the third quarter of up to $645 million associated with impairment of the aforementioned assets. Otherwise, the company’s expected proceeds from the sale of the Development Driller III and Discoverer Inspiration were about half of the impairment the company would have had to take for the sale.

On this news, the Company’s stock price fell $0.42, or 8.86%, to close at $4.32 per share on September 3, 2024, on unusually heavy trading volume.

A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Transocean’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236033