The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Dynagas LNG Partners LP who purchased shares between February 16, 2018 and March 21, 2019.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: The Defendants made materially false and misleading statements and omitted material adverse facts to conceal the unfavorable terms of the Company’s long-term contracts on its liquid natural gas ships, Arctic Aurora and Ob River, and its resulting inability to sustain its quarterly distributions. As a result of the Defendants’ false and misleading statements and omissions, Dynagas securities traded at artificially inflated prices during the Class Period. Such inflation was removed when it was revealed that the Arctic Aurora and the Ob River were commencing employment under new extended charter contracts which were at lower rates compared to the previous charter contracts, thereby undermining the Company’s ability to make future distributions.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 16, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.