The Klein Law Firm Reminds Investors of an Investigation Concerning Possible Violations of Federal Securities Laws by DryShip...
July 24 2017 - 10:08AM
Business Wire
The Klein Law Firm announces the commencement of an
investigation of DryShips Inc. (NASDAQ:DRYS) concerning possible
violations of federal securities laws.
In a series of transactions beginning on or around June 8, 2016,
DryShips raised hundreds of millions of dollars in capital by
selling newly-issued shares directly to Kalani Investments Ltd., a
British Virgin Islands firm. On July 13, 2017, The Wall Street
Journal published an article describing how DryShips’ influxes of
cash resulting from these transactions stoked investor interest in
the Company, allowing it to issue further shares, which it then
continued to sell to Kalani. Then, to counter share-value dilution,
DryShips executed a series of reverse stock splits. The article
suggests that, because Kalani purchased DryShips stock with the
intention of reselling, the transactions between DryShips and
Kalani constituted “pseudo-underwriting.”
If you suffered a loss in DryShips and wish to obtain additional
information, please contact Joseph Klein, Esq. by telephone at
212-616-4899 or visit
http://www.kkclasslaw.com/DRYS-Info-Request-Form-178.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:Joseph Klein, Esq.Empire State Building350 Fifth
Avenue59th FloorNew York, NY 10118Telephone: (212) 616-4899Fax:
(347) 558-9665www.kleinstocklaw.com
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Klein Law FirmJoseph Klein, Esq.212-616-4899
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