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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Dynagas LNG Partners LP Investors

May 20, 2019

LOS ANGELES--(BUSINESS WIRE)--May 20, 2019--

Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Dynagas LNG Partners LP (“Dynagas” or the “Company”) (NYSE: DLNG ) securities between February 16, 2018 and March 21, 2019, inclusive (the “Class Period”). Dynagas investors have until July 16, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click  here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to  shareholders@glancylaw.com, or visit our website at  www.glancylaw.com.

On November 15, 2018, the Company announced that two of its vessels entered extended charter contracts at lower rates compared with prior charter contracts.

On this news, the Company’s share price fell $1.07, more than 13%, to close at $6.69 on November 16, 2018, thereby injuring investors.

Then, on January 25, 2019, the Company 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 this news, the Company’s share price fell $1.11, more than 27%, to close at $2.91 on January 28, 2019, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) 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; (2) that, as a result of the reduced revenue, the Company’s distribution was not sustainable; (3) the Company’s ability to generate cash flow long term did not support its distribution levels; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Dynagas during the Class Period you may move the Court no later than  July 16, 2019  to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190520005831/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 05/20/2019 05:46 PM/DISC: 05/20/2019 05:46 PM

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