SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

March 11, 2016 11:50 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Teekay Corporation of Class Action Lawsuit and a Lead Plaintiff Deadline of May 2, 2016 -- TK

NEW YORK, NY--(Marketwired - March 11, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Teekay Corporation ("Teekay" or the "Company") (NYSE: TKbetween June 30, 2015 and December 17, 2015.

You are hereby notified that a securities class action has been commenced in the USDC for the District of Connecticut. If you purchased or otherwise acquired Teekay securities between June 30, 2015 and December 17, 2015, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/teekay-tk.

The complaint alleges that throughout the Class Period, Defendants issued 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; and (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.

If you suffered a loss in Teekay you have until May 2, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/teekay-tk.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT: 
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004 
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com