NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of DryShips Inc. (“DryShips” or the “Company”) (NASDAQ: DRYS) concerning possible violations of federal securities laws.
The investigation concerns a series of transactions beginning on or around June 8, 2016, wherein 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.” To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.