The Law Offices of Frank R. Cruz Announces Investigation of Transocean Ltd. (RIG) on Behalf of Investors

Published 3 days ago via Business Wire

The Law Offices of Frank R. Cruz announces an investigation of Transocean Ltd. (“Transocean” or the “Company”) (NYSE: RIG) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On September 3, 2024, before the market opened, Transocean announced “as part of the Company’s effort to dispose of non-strategic assets” it had agreed to sell the Development Driller III and the Discoverer Inspiration and associated assets for an aggregate $342 million. The Company further announced that the sales would result in an estimated third-quarter non-cash charge of up to $645 million associated with the impairment of said assets. Otherwise stated, the Company’s expected proceeds from the sale of the Development Driller III and the Discoverer Inspiration, was only approximately half the impairment the Company was required to take for the sale.

On this news, the Company’s share price fell $0.42, or 8.86%, to close at $4.32 per share on September 3, 2024, on unusually heavy trading volume.

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If you purchased Transocean securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

The Law Offices of Frank R. Cruz Announces Investigation of Transocean Ltd. (RIG) on Behalf of Investors

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