STEVENSON, Md.--(BUSINESS WIRE)--

The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers of Diana Containerships Inc. (NASDAQ: DCIX) (“Diana Containerships” or the “Company”) common stock during the period between January 26, 2017 and October 3, 2017, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until December 22, 2017 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Diana Containerships securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company was engaged in a series of manipulative share issuance and sales transactions with related entities that would effectively wipe out the Company’s shareholders and impair the Company’s ability to raise capital or otherwise participate in any broader recovery of the containership market.

According to the complaint, by October 3, 2017, as a result of defendants’ ongoing dilutive and manipulative conduct, the value of Diana Containerships shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Diana Containerships securities purchased on or after January 26, 2017 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/casesandinvestigations.html. You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

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