An investigation on behalf of current long-term investors in shares of Teekay Corporation (NYSE:TK) concerning potential breaches of fiduciary duties by certain directors of Teekay TK was announced.
Investors who are current long term investors in Teekay Corporation (NYSE:TK) shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm for investors in NYSE:TK stocks follows a lawsuit filed against Teekay Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:TK stocks, concerns whether certain Teekay directors are liable in connection with the allegations made in that lawsuit. The plaintiff alleges that the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Teekay Corporation’s repeated assurances that it would maintain a quarterly dividend of at least $0.55 per share were baseless, that Teekay Corporation knew, based on then-present facts, that it could not support future dividend payments in excess of $0.55 per share, that the cash flows from the Company’s master limited partnerships (“MLPs”) – Teekay LNG Partners LP (“TGP”) and Teekay Offshore Partners LP (“TOO”) – could not possibly sustain such high dividends; and (4) Teekay misled the market about the strength of its business and financial condition.
Those who purchased NYSE:TK shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego