Dekalb County Pension Fund News

Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the 2010 Gulf of Mexico oil spill. The 2nd U.S. Circuit Court of Appeals in Manhattan said the lead plaintiff waited two months too long to sue over alleged misstatements in an Oct. 2, 2007, proxy statement for the offshore drilling company's merger with GlobalSantaFe Corp. Shares of Transocean rose 3 percent after the decision was issued. Geoffrey Johnson, a lawyer for the plaintiffs, declined to comment. Transocean and its lawyers did not immediately respond to requests for comment.