LOS ANGELES, CA / ACCESSWIRE / April 28, 2016 / Lundin Law PC announces that a class action complaint has been filed in the U.S. District Court for the District of Connecticut, against Teekay Corporation ("Teekay" or the "Company") (NYSE: TK). Investors who purchased or otherwise acquired shares between June 30, 2015 and December 17, 2015, inclusive (the "Class Period"), are encouraged to contact the Firm prior to the May 2, 2016 lead plaintiff motion deadline.
For more information or to participate, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via email at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Teekay's repeated assurances that it would maintain a quarterly dividend of at least $0.55 per share were baseless; (ii) Teekay was aware that it could not support future dividend payments in excess of $0.55 per share; and (iii) the cash flows from the Company's master limited partnerships ("MLPs") - Teekay LNG Partners LP ("TGP") and Teekay Offshore Partners LP ("TOO") - could not withstand these high dividends.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
SOURCE: Lundin Law PC
ReleaseID: 439369
