The case still obturates
The case still obturates on initial firing. But, the powder quickly burns out causing a drop in barrel pressure that may not be sufficient to keep the case obturated for the full duration of bullet travel. So the case starts to contract before the bullet exits the muzzle, resulting in soot along the case and sometimes around the case head.
This can happen with hot loads, too. If the powder is still burning when the bullet exits (creating a muzzle flash), the barrel pressure will drop and the case will contract. But because the powder is still burning, it may blow down around the case. I've experienced this with heavy loads and short barrels. I suspect this is what is happening with +P loads.