Rosen Law Firm, a global investor rights law firm, announces the filing
of a class action lawsuit on behalf of purchasers of Teekay Corporation
securities (NYSE:TK) from June 30, 2015 through December 17, 2015, both
dates inclusive (the “Class Period”). The lawsuit seeks to recover
damages for Teekay investors under the federal securities laws.
To join the Teekay class action, go to the firm’s website at http://www.rosenlegal.com/cases-849.html
or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653
or email pkim@rosenlegal.com or kchan@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period, Defendants issued
materially false and misleading statements to investors and/or failed to
disclose that: (1) Teekay’s repeated assurances that it would maintain a
quarterly dividend of at least $0.55 per share were baseless; (2) Teekay
knew, based on then-present facts, that it could not support future
dividend payments in excess of $0.55 per share; (3) the cash flows from
Teekay’s master limited partnerships – Teekay LNG Partners LP and Teekay
Offshore Partners LP – could not possibly sustain such high dividends;
and (4) as a result, Teekay’s public statements about the strength of
its business and financial condition were materially false and
misleading and/or lacked a reasonable basis at all relevant times. When
the true details entered the market, the lawsuit claims that investors
suffered damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than May 2, 2016. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. If you wish to join the litigation,
go to the firm’s website at http://www.rosenlegal.com/cases-849.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation.
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