Overview

• Multiple firms, including Hagens Berman, Pomerantz, Rosen, Levi & Korsinsky, and Faruqi, are recruiting investors to move for lead-plaintiff status by September 26, 2025.
• Filed complaints cover May 19 through June 3, 2025 and include investors who bought shares in the May 21 secondary public offering.
• Plaintiffs cite Lieutenant Governor Eleni Kounalakis’s letter stating Sable’s May 19 announcement “appears to mischaracterize” well-testing as commercial production.
• News of a preliminary injunction on May 28 and Sable’s June 4 Form 8-K disclosing a June 3 TRO tied to the Las Flores pipeline coincided with stock drops of 15.3% and 3.91%, respectively.
• One complaint alleges the offering sold about 10 million shares at $29.50 for roughly $295 million and seeks to hold the company and its underwriters liable.