Overview

• Law-firm notices say a federal class action is filed for investors who bought Sable Offshore securities from May 19 to June 3, 2025, including shares from the May 21 secondary offering.
• The complaint alleges Sable represented a resumption of offshore commercial output when activity was limited to required well testing, rendering public statements misleading.
• A May 23 letter from California Lieutenant Governor Eleni Kounalakis asserted the company’s May 19 release mischaracterized testing as production, and that letter became public on May 28.
• Sable’s shares fell about 15% on May 28 following reports about injunction-related developments and the disclosure of the lieutenant governor’s letter.
• Notices from Faruqi & Faruqi, the Law Offices of Howard G. Smith, the Portnoy Law Firm, and Levi & Korsinsky invite investors to seek lead-plaintiff status by September 26, 2025.