This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Law Offices Of Howard G. Smith Announces Investigation On Behalf Of Current And Former Employees Of Transocean Ltd. Who Invested In The Company’s 401(k) Savings Plans

Law Offices of Howard G. Smith announces that it is investigating potential claims against Transocean Ltd. (“Transocean” or the “Company”) (NYSE:RIG) concerning whether the Company’s 401(k) savings plans (the “Plans”) imprudently invested in Transocean stock and whether the Plans’ administrators breached their fiduciary duties to the Plans’ participants in violation of the Employee Retirement Income Security Act of 1974 (ERISA). The investigation concerns public statements issued by Transocean between August 5, 2009 and May 7, 2010.

According to a shareholder lawsuit pending in the United States District Court for the Eastern District of Louisiana, during the foregoing period Transocean and certain of its executive officers failed to disclose and/or misrepresented the effectiveness of Transocean’s safety protocols, recurring problems with blowout preventers (“BOP”) – including BOPs installed on the Deepwater Horizon mobile drilling platform which is currently at the center of a massive oil spill in the Gulf of Mexico – and the Company’s operating and safety record. The investigation concerns whether Transocean and other administrators of the Plan failed to prudently and loyally manage the Plans’ investments in Transocean stock by continuing to offer Company stock when the stock was no longer a prudent investment for participants’ retirement savings.

If you are a current or former employee who participated in, or continues to participate in, Transocean’s 401(k) savings plans and have information or would like to learn more about these claims, please contact Howard 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 howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com .



Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
RIG $18.02 0.00%
AAPL $127.60 0.00%
FB $83.09 0.00%
GOOG $535.38 0.00%
TSLA $205.27 0.00%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs