Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased the common stock of Transocean Ltd. (“Transocean” or the “Company”) (NYSE:RIG) between August 5, 2009 and May 7, 2010, inclusive (the “Class Period”). The class action lawsuit was filed in the United States District Court for the Eastern District of Louisiana.
Transocean provides offshore contract drilling services for oil and gas wells worldwide and was the owner/operator of the Deepwater Horizon mobile drilling platform which exploded April 20, 2010, causing a massive oil spill in the Gulf of Mexico. The investigation focuses on allegations that certain statements made by the Company during this period about the Company’s operations and equipment, including the safety, functioning and effectiveness of blow-out preventers (“BOPs”) installed on the Deepwater Horizon platform, were materially false and/or misleading.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Transocean common stock between August 5, 2009 and May 7, 2010, you have certain rights, and have until July 12, 2010, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to
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