NEW YORK, July 14, 2017 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of DryShips Inc. ("DryShips" or the "Company") (NYSE: DRYS).
Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether DryShips and certain of its officers and/or directors have engaged in securities fraud or
other unlawful business practices.
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class action]
On July 13, 2017, The Wall Street Journal published an article entitled "A Shipping
Company's Bizarre Stock Maneuvers Create High Seas Intrigue". The article described a series of transactions in which
DryShips "repeatedly printed huge numbers of new shares and sold them to" Kalani Investments Ltd. ("Kalani"), a British Virgin Islands firm. Kalani, meanwhile, "appears to have earned tens of millions by
immediately selling the stock, which it purchased at a discount to the stock market price." Citing legal experts, the
article reported that the transactions, in which Kalani purchased DryShips stock with the apparent intent to resell, likely
constituted a public offering with Kalani acting as the underwriter, and that Kalani's failure to duly register as an underwriter
with the U.S. Securities and Exchange Commission would constitute a violation of the federal securities laws. Since
November 2016, DryShips' share price has fallen approximately 99.9%.
The Pomerantz Firm, with offices in New York, Chicago,
Florida, and Los Angeles, is acknowledged as one of the premier
firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham
L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class
actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights
of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP