An investigation for investors in Transocean LTD (NYSE:RIG) shares over potential securities laws violations by Transocean LTD was announced and NYSE:RIG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/06/2017 -- Transocean LTD is under investigation over potential securities laws violations. The investigation was announced for investors in NYSE:RIG shares in connection certain financial statements made by Transocean LTD.
Investors who purchased shares of Transocean LTD (NYSE:RIG), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Transocean LTD regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Transocean LTD reported that its annual Total Revenue declined from over $7.38 billion in 2015 to over $4.16 billion in 2016 and that its Net Income declined from $791 million in 2015 to $782 million in 2016.
On March 1, 2017, after market hours, Transocean LTD filed to postpone its 2016 annual report, stating that it expected to disclose a material weakness in its internal control over financial reporting relating to its controls over income tax accounting.
Shares of Transocean LTD (NYSE:RIG) closed on March 3, 2017 at $13.53 per share.
Those who purchased shares of Transocean LTD have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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