LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) is investigating potential claims on behalf of investors of DryShips Inc. (“DryShips” or the “Company”) (NASDAQ: DRYS) concerning the Company and its officers’ possible violations of federal securities laws.
DryShips owns and operates ocean going cargo vessels worldwide.
Between November 9, 2016 and November 16, 2016, DryShips’ share price skyrocketed from $163 per share to $2,336 per share. According to a report published in The Wall Street Journal, DryShips issued stock totaling more than $500 million at the peak of the rally. The Stock was sold to Kalani Investments, a British Virgin Islands company, who in turn sold the stock to smaller investors. The Wall Street Journal speculated that DryShips’ founder, George Economou, may have collected tens of millions in profits as a result of these events and transaction. On May 1, 2017, DryShips’ stock price closed at just $1.05 per share, a near 100% decline from its November 2016 high.
If you purchased DryShips securities, have information or would like to learn more about these claims, or 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 firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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