SOURCE: Kahn Swick & Foti, LLC

March 18, 2016 22:03 ET

The Former Attorney General of Louisiana & Kahn Swick & Foti, LLC Remind Large Investors of Lead Plaintiff Deadline in Class Action Lawsuit Against Teekay Corporation - TK

NEW ORLEANS, LA--(Marketwired - March 18, 2016) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 2, 2016 to file lead plaintiff applications in a securities class action lawsuit against Teekay Corporation (NYSE: TK), if they purchased the Company's securities between June 30, 2015 and December 17, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Connecticut.

What You May Do

If you purchased shares of Teekay and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 2, 2016.

About the Lawsuit

Teekay and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On December 16, 2015, Teekay disclosed that its "Board of Directors has approved a plan to reduce the Company's quarterly dividend to $0.055 per share, down from $0.55 per share in the third quarter of 2015, commencing with the fourth quarter of 2015 dividend payable in February 2016."

On this news, the price of Teekay's shares plummeted by 58%.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447