NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against DryShips, Inc. (NASDAQ:DRYS) (“DryShips” or the “Company”) and other defendants, related to alleged violations of federal securities laws. If you are a DryShips shareholder, you are encouraged to contact Scott+Scott for additional information. Investors have until September 12, 2017, to move for lead plaintiff.
DryShips is holding company that owns drybulk carriers and offshore support vessels.
The lawsuit 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, an article published in The Wall Street Journal described how DryShips “sold vast sums of discounted shares to an offshore firm and propped up prices with ‘reverse splits,’ sending investors on a wild ride that, for many, ended with steep losses.”
DryShips is currently trading at around $0.90 per share.
What You Can Do
If you are a DryShips shareholder who purchased shares in the Company between June 8, 2016 and July 12, 2017, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California and Ohio.