NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of DryShips Inc. (NASDAQ:DRYS) resulting from allegations that DryShips may have issued materially misleading business information to the investing public.
Between November 9 and November 16, 2016, shares of DryShips rose from $163 to $2,336 per share. The Wall Street Journal reported that DryShips began to make a series of stock sales totaling more than $500 million a day after its shares peaked. The Wall Street Journal also reported that DryShips sold the stock to Kalani Investments, which in turn sold the stock to small investors. It was further reported that DryShips’ series of stock sales could yield DryShips Chairman and Chief Executive Officer George Economou tens of millions in profits. Since the mid-November peak at $2,336 per share, DryShips’ shares have fallen 99.9% to $1.30 per share as of April 28, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by DryShips investors. If you purchased shares of DryShips on or before April 28, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1112.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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