NEW YORK, May 1, 2017 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, is investigating potential securities fraud at DryShips Inc. ("DryShips" or the
"Company") (NASDAQ: DRYS).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose
material non-public information.
Specifically, The Wall Street Journal reported that DryShips began to make a series of stock sales totaling more
than $500 million a day after its shares peaked between November 9 and
November 16, 2016, from $163 to $2,336 per share. The Wall Street
Journal also reported the company has used the proceeds from the share sales to acquire several hundred million dollars'
worth of ships at attractive prices.
According to the article, DryShips shares would ordinarily be worth pennies following the big decline. The Company has avoided
that through repeated reverse stock splits. Since November 15, 2016, DryShips share price has
fallen from $2,336 per share to a closing price of $1.05 per share on
May 1, 2017 —a 99.9% drop.
If you invested in DryShips stock or options and would like to discuss your legal rights, click
here: www.faruqilaw.com/DRYS.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar
outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All
communications will be treated in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP