Teekay Corp. has developed from a regional shipping company into one of the world's largest marine energy transportation, storage & production companies.

According to the law firm press release, the Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s repeated assurances that it would maintain a quarterly dividend of at least $0.55 per share were baseless; (2) the Company 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 the Company’s master limited partnerships – Teekay LNG Partners LP and Teekay Offshore Partners LP – could not possibly sustain such high dividends; and (4) Teekay misled the market about the strength of its business and financial condition.

This case was transferred to the Western District of Washington on December 13, 2016.

An amended complaint was filed on January 13, 2017.

On November 7, 2017, this case was dismissed with prejudice.