NEW ORLEANS, April 15, 2016 /PRNewswire/ -- 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:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC