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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Dynagas LNG Partners LP (NYSE: DLNG) who purchased shares between February 16, 2018 and March 21, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Dynagas lawsuit alleges that the terms of the Company’s long-term contracts on its liquid natural gas ships, Arctic Aurora and Ob River, were unfavorable and resulted in the Company’s 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.
Shareholders have until July 16, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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