LOS ANGELES, Aug. 07, 2017 (GLOBE NEWSWIRE) — Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against DryShips Inc. (“DryShips” or the “Company”) (Nasdaq:DRYS) for possible violations of federal securities laws between June 8, 2016 and July 12, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the September 12, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the lawsuit, throughout the Class Period, DryShips made materially false and/or misleading statements, and/or failed to disclose: that the Company engaged in a systemic stock-manipulation scheme to artificially inflate its share price; that DryShips’ transactions with Kalani Investments Ltd. were an illegal capital-raising scheme, due partly to Kalani’s failure to register as an underwriter with the Securities and Exchange Commission; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. Since November 2016, DryShips’ stock price has fallen about 99%, which caused investors harm according to the Complaint.
Lundin Law PC was created by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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