Scott+Scott, Attorneys at Law, LLP, a global investor rights law firm, has commenced an investigation into Teekay Corp. (“Teekay” or the “Company”) relating to potential violations of federal securities laws. If you purchased shares of Teekay common between June 30, 2015 and present, you are encouraged to contact Scott+Scott, Attorneys at Law, LLP for additional information.
Teekay receives the majority of its cash flow from distributions paid by its master limited partnerships Teekay LNG Partners LP and Teekay Offshore Partners LP. As a result of this relationship, the higher the distributions paid by the master limited partners to their investors, the more money that Teekay can provide in dividends to its investors.
On December 16, 2015, after the market closed, Teekay announced that it was slashing its dividend by 90%. As a result, the price of Teekay common stock plummeted from a $17.49 on December 16 to $7.27 on December 17, a stock drop of over 58%.
What You Can Do
To join the action, go to: JOIN ACTION. You can also call Joseph Halloran, Esq. at (646) 582-0121 or email jhalloran@scott-scott.com for information.
THE FIRM ALSO RECOMMENDS THAT YOU READ ITS “INVESTOR GUIDE TO SECURITIES LITIGATION,” WHICH YOU CAN OBTAIN FREE OF CHARGE BY FILLING OUT THE INFORMATION AT INVESTOR GUIDE.
Scott+Scott, Attorneys at Law, LLP has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160203006263/en/
Contacts:
Joseph V. Halloran,
646-582-0121
jhalloran@scott-scott.com
