Block & Leviton LLP Notifies DryShips, Inc. (DRYS) Investors Of Looming Deadline In Class Action Lawsuit And Encourages Investors Suffering Significant Losses To Contact The Firm

BOSTON, Sept. 1, 2017 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, reminds investors of the September 12, 2017 lead plaintiff deadline in a class action lawsuit against DryShips, Inc. (NASDAQ: DRYS) and certain of its officers and directors for violations of the federal securities laws.  

If you purchased or otherwise acquired DryShips securities from June 8, 2016 through July 15, 2017 and have questions about your legal rights or possess information relevant to this lawsuit, please contact attorney Bradley Vettraino at (617) 398-5600, by email at [email protected], or by visiting www.blockesq.com/dryships.   

On July 13, 2017, the Wall Street Journal published an article describing a scheme by DryShips to issue and sell millions of shares at below market price to Kalani Investments Limited ("Kalani"), which it would in turn sell on the open market, causing massive share dilution. The article quoted legal experts who indicated that the scheme may be illegal under the Federal securities laws. Since this scheme is alleged to have begun, shares of the Company have fallen more than 99%, causing tens of millions in losses to investors.

The lawsuit against DryShips and certain of its officers and directors alleges that during the class period defendants made materially false and misleading statements and/or failed to disclose that defendants had engaged in a series of manipulative share issuance/sales transactions with Kalani and related entities to artificially inflate DryShips' share price; that this scheme with Kalani was illegal due, in part, to Kalani's failure to register as an underwriter with the SEC; and that, as a result, the Company's public statements were materially false and misleading at all relevant times.

On August 31, 2017, the Company disclosed that it had received a subpoena from the SEC, which is now investigating these matters.

If you wish to participate in the lawsuit as a lead plaintiff, you must move the Court no later than September 12, 2017. If you wish to become involved in the litigation or have questions about your legal rights, please contact attorney Bradley Vettraino at (617) 398-5600, by email at [email protected].

Confidentiality to whistleblowers or others with information relevant to this investigation is assured.

Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.

This notice may constitute attorney advertising.

CONTACT:

Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
[email protected]

SOURCE Block & Leviton LLP

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