The Klein Law Firm Reminds Investors of a Class Action Filed on Behalf of DryShips Inc. Shareholders and a
Lead Plaintiff Deadline of September 12, 2017
The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of DryShips Inc.
(NASDAQ:DRYS) who purchased shares between June 8, 2016 and July 12,
2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that
the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading
statements and/or failed to disclose that (i) Defendants engaged in a systemic stock-manipulation scheme to artificially inflate
DryShips’ share price; (ii) DryShips’ transactions with Kalani Investments Ltd. were an illegal capital-raising scheme, due in part
to Kalani’s failure to register as an underwriter with the SEC; and (iii) as a result of the foregoing, DryShips’ public statements
were materially false and misleading at all relevant times. 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.”
Shareholders have until September 12, 2017 to petition the court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/dryships-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
The Klein Law Firm
Joseph Klein, Esq., 212-616-4899
Fax: 347-558-9665
www.kleinstocklaw.com
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