Pilgrim Global ICAV Sells 167,175 SOC Shares at $21.98/Share on 2025-07-18.

Sable Offshore Corp. (SOC) has announced that Pilgrim Global ICAV, a 10% owner of the company, has disposed of 167,175 shares at a price of $21.98 per share on July 18, 2025.

Sable Offshore Corp. (SOC), a company involved in offshore oil and gas production, has recently experienced a series of developments that have impacted its stock price and attracted legal scrutiny. On July 18, 2025, the company reported that Pilgrim Global ICAV, a 10% owner, disposed of 167,175 shares at a price of $21.98 per share [3]. This transaction comes amidst ongoing investigations by law firms Pomerantz LLP and Rosen Law Firm into potential securities fraud and business practices.

On May 19, 2025, Sable announced the resumption of oil production from one of its offshore platforms in California. However, the California State Land Commission raised concerns about the company's announcement, leading to a preliminary injunction from the Santa Barbara County Superior Court regarding Sable's maintenance and repair work in the coastal zone. This injunction, which was granted on May 28, 2025, resulted in a significant drop in Sable's stock price, falling by 15.3% to $27.89 per share [2].

Pomerantz LLP, a prominent law firm in securities class actions, has launched an investigation into claims on behalf of Sable investors. The firm has advised investors to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980, for more information. Similarly, Rosen Law Firm has encouraged investors to inquire about a potential securities class action, noting that investors may be entitled to compensation without out-of-pocket fees or costs [2].

The legal investigations and shareholder dispositions have contributed to market volatility for Sable Offshore Corp. Investors should closely monitor the situation and consider consulting with financial advisors or legal counsel to understand the potential implications of these developments.

References:
[1] https://www.marketscreener.com/news/pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-sable-offshore-corp-soc-ce7c5cddd88cf023
[2] https://www.marketscreener.com/news/rosen-law-firm-encourages-sable-offshore-corp-investors-to-inquire-about-securities-class-action-in-ce7c5cdcda88f221
[3] https://www.marketscreener.com/news/certain-common-stock-of-sable-offshore-corp-are-subject-to-a-lock-up-agreement-ending-on-21-jul-202-ce7c5cdfdd8cf122