DLNG Stock: Berger Montague Investigates Class Action Claims Against Dynagas LNP Partners LP (NYSE: DLNG); Lead Plaintiff Deadline is July 16, 2019
May 20, 2019. PHILADELPHIA – Berger Montague announces that a class action lawsuit has been filed against Dynagas LNP Partners LP (“Dynagas” or the “Company) (DLNG) and several of its executives and associated entities on behalf of those who purchased the securities of Dynagas between February 16, 2018 and March 21, 2019, inclusive (the “Class Period”).
If you wish to discuss the claims against Dynagas or have any questions concerning your rights or interests, please contact Barbara A. Podell, Esq. at (215) 875-4690 or Michael C. Dell’Angelo, Esq. at (215) 875-3080 or visit www.bergermontague.com. If you purchased or acquired Dynagas securities during the Class Period and suffered damages, you may, no later than July 16, 2019, request that the Court appoint you lead plaintiff of the proposed Class. You do not need to be a lead plaintiff to share in any possible recovery to the Class.
The complaint charges Dynagas and certain of its executives and associated entities with violations of the Securities Exchange Act of 1934. The complaint alleges that throughout the Class Period, Defendants made materiality false and misleading statements and omitted material adverse facts to conceal the unfavorable terms of Dynagas’ long-term contracts on its liquid natural gas ships, Artic Aurora and Ob River, and its inability to sustain its quarterly distributions to investors. The complaint alleges that Dynagas was receiving reduced revenue from the charter of the Artic Aurora and Ob River and that these unfavorable contract terms would, by agreement, continue for years into the future such that Dynagas’ capacity to generate cash flow in the long term did not align with its $.25 per quarter, per share distribution.
Berger Montague, with offices in Philadelphia, Minneapolis and Washington, D.C., has been a pioneer in securities class action litigation since its founding in 1970, has represented individual and institutional investors for over four decades and serves as lead counsel in courts throughout the United States.
Barbara A. Podell
Michael C. Dell’Angelo