Shareholders Pleaded Material Misrepresentations In Securities Suit, Judge Rules

Shareholders Pleaded Material Misrepresentations In Securities Suit, Judge Rules

NEW YORK - Lead plaintiffs in a securities class action lawsuit against Transocean Ltd. and others have properly pleaded material misrepresentations in making the federal securities law claims against the defendants for alleged misrepresentations made in connection with a merger between an oil and gas drilling contractor and Transocean, a federal judge in New York ruled March 30 (Bricklayers and Masons Local Union No. 5 Ohio Pension Fund v. Transocean Ltd., et al., No. 10-7498, S.D. N.Y.' 2012 U.S. Dist. LEXIS 46202).

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