On or around 11/07/2017 (Court's order of dismissal)
Filing Date: March 01, 2016
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 (“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.
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.
Company & Securities Information
Defendant: Teekay Corp.
Industry: Water Transportation
Ticker Symbol: TK
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Ronald E. Stein, et al. v. Teekay Corp., et al.
COURT: W.D. Washington
DOCKET #: 16-CV-00345
JUDGE: Hon. Victor A. Bolden
DATE FILED: 03/01/2016
CLASS PERIOD START: 06/30/2015
CLASS PERIOD END: 12/17/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Scott + Scott LLP (NY) 405 Lexington Avenue, 40th Floor, The Chrysler Building, Scott + Scott LLP (NY), NY 10174 (212) 223-6444 (212) 223-6444 ·
First Identified Complaint (FIC) Filings:
Class Action Complaint
Courtroom Minutes - Civil
Ruling on Motion to Transfer
U.S. District Court Civil Docket
Maeve Investment Company Limited Partnership, et al. v. Teekay Corp., et al.