TheGrantLawFirm Files Class Action Against Seadrill Limited

TheGrantLawFirm, PLLC announces that it has filed a class action suit in the United States District Court for the Southern District of New York on behalf of purchasers of Seadrill Limited (“Seadrill”) SDRL American Depository Receipts (“ADRs”) during the period of May 28, 2014 to November 25, 2014 (the “Class Period”).

Bermuda-based Seadrill is the world's largest offshore drilling contractor. The complaint alleges that Seadrill and certain of its senior executives violated federal securities laws by making false and misleading statements about the strength of the Company's business prospects, repeatedly misleading investors regarding the sustainability of the Company's dividend. As a result of defendants' Class Period statements, Seadrill ADRs traded at artificially inflated prices, reaching a high of over $38 per ADR by July 2014. On November 26, 2014, as further alleged, Seadrill disclosed that it was indefinitely suspending its dividend, causing the price of its stock to plummet.

If you would like more information about this action and our investigation, please contact plaintiffs' counsel, Lynda J. Grant at 212-292-4441/lgrant@grantfirm.com or Jorge Amador at 212-292-4449/jamador@grantfirm.com. Lynda J. Grant has been representing wronged investors for over 30 years, and was recently selected as a New York Metro Superlawyer. Jorge Amador is a forensics accounting expert, and class action attorney.