DryShips Inc (fka DRYS)

[Atlanta1]

16:13

DRYS

DryShips reports huge Q2 loss, co also received a subpoena from the SEC, shares tank (3.04 -0.40)

Co reported a Q2 loss of ($15.6 mln) vs. a loss of ($9.1 mln) in last year's quarter; revs rose 4% to $16.4 mln
Co says it reported a per share loss of ($37.12)/share
The co has also received a subpoena from the Securities and Exchange Commission ("SEC") requesting certain documents and information from the Company in connection with offerings made by the Company between June 2016 and July 2017. The Company is providing the requested information to the SEC
Litigation Update:
Various complaints have been filed in the Marshall Islands and the United States alleging various violations by DryShips and/or two of its officers in connection with the securities laws of the United States and the laws of the Republic of the Marshall Islands requesting differing amounts of damages that in some instances have not yet been quantified
DryShips and its management believe these complaints are without merit and intend to vigorously defend themselves against these allegations