According to the lawsuit, throughout the Cass Period, defendants made false and misleading statements and/or failed to disclose that:
- the Discoverer Inspiration and the Development Driller III were considered non-strategic assets;
- Transocean’s recorded asset valuations were overstated;
- as a result, Transocean would take nearly twice the vessels’ sale price in impairment if sold; and
- as a result of the foregoing, defendants’ positive statements about Transocean’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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