NEW YORK–(BUSINESS WIRE)–Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced it has
filed a securities class action lawsuit on behalf of persons and
entities that purchased securities of Dynagas LNG Partners LP (“Dynagas”
or the “Company”) during the period from February 16, 2018 through March
21, 2019, inclusive (the “Class Period” and the“Class”). The case was
filed in the United States District Court for the Southern District of
New York (the “Court”), Case No.1:19-cv-04512, against Dynagas, certain
associated entities and certain of the Company’s senior executives
(collectively, “Defendants”).
The class action asserts claims under Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934. The complaint alleges that, during the
Class Period, 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. The complaint seeks an award of damages, and
interest thereon, to plaintiff and other Class members.
If you wish to serve as a lead plaintiff in this matter, you must file a
motion with the Court no later than July 16, 2019. Any member of the
proposed Class may move the Court to serve as a lead plaintiff in this
matter through counsel of their choice, or they may choose to do nothing
and remain a member of the Class.
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact: Andrew J. Entwistle,
Esq. of Entwistle & Cappucci at (212) 894-7200 or via e-mail at [email protected];
or Robert N. Cappucci, Esq. of Entwistle & Cappucci at (212) 894-7200 or
via e-mail at [email protected].
About Entwistle & Cappucci
Entwistle & Cappucci is a national law firm providing exceptional legal
representation to clients globally in the most complex and challenging
legal matters. Our practice encompasses all areas of litigation,
including securities, antitrust, corporate transactions, general
corporate and commercial, creditor’s rights and bankruptcy, corporate
governance and fiduciary duty, government affairs, insurance,
investigations and white collar defense. Our clients include public and
private corporations, major hedge funds, public pension funds,
governmental entities, leading institutional investors, domestic and
foreign financial services companies, emerging business enterprises and
individual entrepreneurs.
Contacts
Entwistle & Cappucci LLP
Andrew J. Entwistle, Esq. ([email protected])
Robert
N. Cappucci Esq. ([email protected])
299
Park Avenue, 20th Floor
New York, New York 10171
Telephone:
(212) 894-7200
Facsimile: (212) 894-7272
www.entwistle-law.com
