Dynagas LNG Partners LP (NYSE: DLNG) Investor Securities Class Action Lawsuit 05/20/2019

If you purchased a significant amount of shares of Dynagas LNG Partners LP (NYSE: DLNG) betweenFebruary 16, 2018 and March 21, 2019, and / or if you purchased any NYSE: DLNG shares prior to February 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: July 16, 2019. NYSE: DLNG investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Dynagas LNG Partners
Case Name: 
Dynagas LNG Partners Shareholder Class Action Lawsuit 05/20/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: DLNG
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/20/2019
Class Period Begin: 
02/16/2018
Class Period End: 
03/21/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
07/16/2019
Summary: 

An investor in shares of Dynagas LNG Partners LP (NYSE: DLNG) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Dynagas LNG Partners LP in connection with certain allegedly false and misleading statements made between February 16, 2018 and March 21, 2019.

Monaco based Dynagas LNG Partners LP, through its subsidiaries, operates in the seaborne transportation industry worldwide.

On November 15, 2018, Dynagas LNG Partners LP announced that two of its vessels entered extended charter contracts at lower rates compared with prior charter contracts.
Then, on January 25, 2019, Dynagas LNG Partners LP announced a 75% cut to its global distribution “in order to retain more of the cash generated from the Partnership’s long term contracts to maintain a steady cash balance.”

On March 21, 2019, Dynagas LNG Partners LP announced its fourth quarter and full year financial results. Dynagas LNG Partners LP reported that its annual Total Revenue declined from $138.99 million in 2017 to $127.13 million in 2018 and that its Net Income declined from $17.33 million in 2017 to $3.61 million in 2018.

Shares of Dynagas LNG Partners LP (NYSE: DLNG) declined from $17.90 per share on April 17, 2017 to as low as $1.95 per share on May 20, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Dynagas LNG Partners LP (NYSE: DLNG) common shares between February 16, 2018 and March 21, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 16, 2018 and March 21, 2019, the Defendants failed to disclose to investors that the Company’s new three year charter agreement with Statoil was not a continuation of its current contract but a new agreement with reduced revenue, that, as a result of the reduced revenue, the Company’s distribution was not sustainable, that the Company’s ability to generate cash flow long term did not support its distribution levels, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.