Class Action Lawsuit Filed Against Sable Offshore Corporation: Bragar Eagel & Squire, P.C. Invites Affected Investors to Seek Legal Assistance

In a recent development, a class action lawsuit has been filed against Sable Offshore Corporation, alleging that the company made misleading statements about resuming oil production off the coast of California. The lawsuit was filed by Bragar Eagel & Squire, P.C., a nationally recognized law firm, in the United States District Court for the Central District of California.

The lawsuit, which was filed on behalf of all persons and entities who purchased or otherwise acquired Sable securities between May 19, 2025 and June 3, 2025, claims that defendants throughout the Class Period and in the Sable Offshore's offering documents represented that the company had restarted oil production off the coast of California when it had not.

The controversy began on May 23, 2025, when Eleni Kounalakis, the Lieutenant Governor of California, wrote a letter to Sable Offshore's Vice President of Environmental & Government Affairs, stating that the company's May 19, 2025 press release was misleading. The letter was not published on the internet for the general public to view until May 28, 2025.

On May 21, 2025, Sable Offshore conducted a SPO, issuing 10 million shares of its common stock at the offering price of $29.50 per share for proceeds of $295 million. However, it seems that the company's statements about the resumption of oil production off the California west coast were false.

On June 4, 2025, Sable Offshore revealed that a Santa Barbara County Superior Court Judge granted temporary restraining orders prohibiting the company from restarting transportation of oil through the Las Flores Pipeline System pending a hearing on an order to show cause regarding a preliminary injunction scheduled for July 18, 2025.

The CEO of Sable Offshore Corporation from May 21, 2025, to June 3, 2025, responsible for the false statement about resuming oil production off the California west coast, was John Matthews.

Investors who purchased Sable shares and suffered a loss are encouraged to contact Bragar Eagel & Squire, P.C. to discuss their options. Brandon Walker, Esq., a partner at the firm, can be reached through email, telephone, or a contact form on the firm's website (www.bespc.com). Brandon Walker can also be followed on LinkedIn and X.

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in complex litigation. There is no cost or obligation to contact the firm.

For updates on the case, investors can follow Sable Offshore's updates on LinkedIn, X, and Facebook. The firm's updates will be posted regularly as the case progresses. Investors have until September 26, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Investors who wish to join the class action lawsuit have until September 26, 2025, to apply to the Court to be appointed as lead plaintiff. If you are an investor who purchased Sable securities between May 19, 2025, and June 3, 2025, and wish to discuss your options, please contact Bragar Eagel & Squire, P.C. directly.

Class Action Lawsuit Filed Against Sable Offshore Corporation: Bragar Eagel & Squire, P.C. Invites Affected Investors to Seek Legal Assistance