NEW YORK, April 28, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of Teekay Corporation securities (NYSE:TK) from June 30, 2015 through December 17, 2015, both dates inclusive (the “Class Period”) of the important May 2, 2016 lead plaintiff deadline in the class action. 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. Attorney Advertising. Prior results do not guarantee a similar outcome.