Sable Offshore (SOC) Securities Fraud Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against Sable Offshore Corp. (SOC)

If you have held Sable Offshore securities since May 19, 2025, and still hold some shares today, you can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award for you, all at absolutely no cost.

About Sable Offshore

Sable Offshore is a Houston-based independent upstream oil and energy company. Sable Offshore’s operations are centered on the Las Flores Canyon facility in Santa Barbara County, California. 

The company focuses on developing the recently reopened Santa Ynez Unit, located in federal waters offshore California.

What’s Being Investigated

Lawyers are investigating allegations that Sable Offshore Corp. may have made misleading statements or omitted material information regarding its operational status and regulatory compliance. The focus includes Sable’s May 19, 2025, press release announcing the resumption of oil production from one of its offshore platforms.

Days later, the California State Land Commission sent Sable a letter alleging that the company’s press release mischaracterized the nature of its activities, potentially conflating required well testing with an actual restart of operations.

Further, on May 28, 2025, a preliminary injunction was issued by the Santa Barbara County Superior Court, relating to Sable’s pipeline maintenance and repair activities. These events, combined with a significant stock price decline, have raised questions among investors regarding the accuracy and completeness of Sable’s public disclosures and the adequacy of its internal controls.

Key Timeline

• May 15, 2025: Sable reportedly resumes oil production from one offshore platform related to its Las Flores pipeline. Investors allege this event was central to subsequent disclosures.
• May 19, 2025: Sable issues a press release announcing the production restart. Investors say this statement is under scrutiny for potentially mischaracterizing the nature of operations.
• May 21, 2025: Sable announces the pricing of its secondary public offering of 10,000,000 shares at $29.50 per share. Investors contend this capital raise occurred amid ongoing questions about operational status.
• May 23, 2025: California State Land Commission sends Sable a letter warning that its May 19 press release may have caused public confusion by conflating well testing with a true restart. The company also announces the closing of its public offering.
• May 28, 2025: Santa Barbara County Superior Court approves a preliminary injunction requested by the California Coastal Commission regarding Sable’s pipeline maintenance and repair work. On this news, Sable’s share price declines by approximately 15%.

Why Investors May Be Concerned

Investors allege that Sable Offshore may have made materially misleading statements or omitted key facts regarding its operational readiness and regulatory compliance. The complaint contends that management’s public statements about resuming production may have overstated the company’s progress or failed to disclose the true nature of its activities, especially in light of the California State Land Commission’s letter and the subsequent court injunction.

Concerns have also been raised about the timing of Sable’s public offering, which was priced and closed shortly after the disputed press release. Stockholders argue that these actions, combined with the sharp stock price decline following regulatory intervention, could implicate failures in disclosure controls or board oversight of mission-critical risks.

Possible Legal Pathways

Based on the allegations, investors may pursue several legal avenues.

Potential next steps:

• Shareholder Actions on Behalf of the Company: Investors who still hold Sable Offshore Holdings shares may consider a _derivative action_ — a type of lawsuit brought on behalf of the company itself when its leaders are accused of misconduct or failing to act in the company’s best interests. These cases seek corporate reforms or the return of funds to the company, not personal damages.
• Corporate Governance Reforms: The investigation may lead to demands for stronger oversight, improved disclosure controls, or other governance changes designed to protect shareholders going forward.
• Regulatory Review: Government regulators could also review the company’s public statements and conduct, though no such inquiries have been confirmed.

Your Rights and Next Steps

If you've held Sable Offshore securities since May 19, 2025, and still hold shares today, you may have important legal rights. This is an active investigation into whether Sable’s officers and directors breached their fiduciary duties or federal securities laws.

Shareholders may be able to pursue a derivative action, which allows investors to bring claims on behalf of the company for alleged failures in oversight, risk management, or disclosure. In such cases, the goal is to improve governance, recover damages for the company, or seek other remedies. Participation in a derivative action typically requires that you held shares during the relevant period and that you act within certain time limits.

It is important to preserve documentation of your Sable Offshore investments and any related communications. If a derivative lawsuit is filed, you may be notified of your rights to participate.

You May Be Entitled to Compensation

Securities investigations are time-sensitive. If you have held Sable Offshore securities since at least May 19, 2025, you may be able to seek corporate reforms, the return of funds back to the Company, and a court approved incentive award for you, all at absolutely no cost.

To protect your rights and ensure you are included in any future legal actions, complete the form below to join the investigation.