The Klein Law Firm Notifies Investors of an Investigation Concerning Possible Violations of Federal Securities Laws by DryShi... Date : 07/21/2017 @ 12:59PM Source : Business Wire Stock : Dryships Inc. (MM) (DRYS) Quote : 2.17 1.74 (404.65%) @ 7:46PM
The Klein Law Firm Notifies Investors of an Investigation Concerning Possible Violations of Federal Securities Laws by DryShi... Print Alert Dryships (NASDAQ:DRYS) Intraday Stock Chart Today : Friday 21 July 2017
Click Here for more Dryships Charts. The Klein Law Firm announces the commencement of an investigation of DryShips Inc. (NASDAQ: DRYS) concerning possible violations of federal securities laws.
In a series of transactions beginning on or around June 8, 2016, 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, 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.”
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.
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