CASES
Transocean Ltd. (S.D.N.Y.)
Class Period: May 5, 2009 to Jun 1, 2010
Lead Plaintiff Deadline: Jul 12, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Transocean Ltd. (S.D.N.Y.) (RIG) ("Transocean" or the "Company") on behalf of all securities purchasers from May 5, 2009 through June 1, 2010, inclusive ("Class Period"), in the United States District Court for the Southern District of New York.
The complaint alleges that throughout the Class Period, Defendants violated §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder by disseminating false and/or misleading statements and material omissions about the Company's safety protocols, the nature and correction of design issues, recurring blowout preventer ("BOP") problems, and the Company's operating and safety record.
The complaint further alleges that as a result of Defendants' violations of federal securities laws, Plaintiff and the other members of the class have been damaged by purchasing Transocean common stock at allegedly artificially inflated prices during the Class Period and by suffering losses when the price of Transocean's common stock substantially declined after the revelations of Transocean's alleged deficient safety protocols, defective designs, and poor safety and operating records.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.