Thieler Law Corp advises investors with losses exceeding $100,000 of the May 2, 2016 lead plaintiff deadline in a class action lawsuit filed against Teekay Corporation (NYSE: TK) (“Teekay” or “the Company”). The suit is pending in the U.S. District Court for the District of Connecticut and investors, who purchased Teekay Corporation securities between June 30, 2015 and December 17, 2015, have until May 2, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Teekay Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that: Teekay’s repeated assurances that it would maintain a quarterly dividend of at least $0.55 per share were baseless; Teekay knew, based on then-present facts, that it could not support future dividend payments in excess of $0.55 per share; 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; and as a result, the Compnay's public statements about the strength of its business and financial condition were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On December 16, 2015, Teekay revealed 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.”

Following this news, NYSE: TK shares declined by 58%.

If you were negatively impacted by your investment in Teekay Corporation securities between June 30, 2015 and December 17, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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