Sable Offshore Plunges 9.15% as Lawsuits Over Oil Misstatements Drive $260M Volume—400th Highest on Day

On September 9, 2025, , . The sharp drop follows a class-action lawsuit alleging material misrepresentations by the company regarding its offshore oil production status.

Two separate legal notices filed by , LLP and Glancy Prongay & Murray LLP highlight claims that Sable falsely stated it had resumed oil operations off California’s coast, misleading investors between May 19 and June 3, 2025. The lawsuits allege these statements artificially inflated stock value, causing losses when the truth emerged. .

Legal representatives emphasize the firm’s track record in , though specific financial details about the firm or case outcomes remain undisclosed. The lawsuits do not address operational performance beyond the alleged misstatements, leaving market focus on and investor sentiment shifts.

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