Sable Offshore (SOC) Falls Hard on Legal Battle Uncertainties

We recently published 10 Big Names Investors Are Dumping. Sable Offshore Corp. (NYSE:SOC) is one of the companies that heavily bled in Thursday’s trading.

Sable Offshore saw its share prices decline by 7.40 percent on Thursday to finish at $20.15 apiece as investors unloaded portfolios to mitigate risks from the company’s ongoing legal battles.

In separate announcements on the same day, various shareholder law firms urged affected investors who purchased shares of Sable Offshore Corp. (NYSE:SOC) between May 19 and June 3, 2025, to seek the role as lead plaintiff in a lawsuit before the deadline on Friday, September 26.

The case alleged that the firm disclosed false information in relation to its production off the coast of California.

Sable Offshore (SOC) Falls Hard on Legal Battle Uncertainties

Additionally, Sable Offshore Corp. (NYSE:SOC) is facing a legal battle filed by the Santa Barbara County on September 16 for attempting to restart the Santa Ynez Unit oil and gas operations.

In a statement, the company said that it was working with all state and federal agencies to restart the two lines.

“Concerning our legal and established pipeline’s right of way and the work conducted within previously disturbed soil, we have been and continue to work with the appropriate agencies to align interpretations in the handling of backfill soil during the repair and maintenance process,” Sable Offshore Corp. (NYSE:SOC) said.

While we acknowledge the risk and potential of SOC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SOC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.