In addition to the Johnson filing, at least 7 other law firms (links below) have announced class action litigation alleging that Sable Offshore made false or misleading statements regarding the restart of Santa Ynez Unit production.
- Levi & Korsinsky
- Bronstein, Gewirtz & Grossman, LLC
- The Rosen Law Firm
- The Law Offices of Frank R. Cruz
- Faruqi & Faruqi
- The Gross Law Firm
- The DJS Law Group
Perhaps working in Sable’s favor is the fact that the Federal government (BSEE) made a similar production restart announcement nearly 2 months after Sable, declaring victory and seemingly taking credit for the achievement:
“This is a significant achievement for the Interior Department and aligns with the Administration’s Energy Dominance initiative, as it successfully resumed production in just five months.“
Will the Dept. of Justice intervene on behalf of Sable?
Meanwhile, Sable’s share price rebounded in mid-July and is holding up surprisingly well (see below). Perhaps investors don’t see the class action suits as a significant incremental threat given the risks associated with decisions by 8 California agencies, Santa Barbara County, and various judges, and the persistent challenges by well-organized opponents of offshore production.
Bud's Offshore Energy (BOE) 
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