An investigation for investors in DryShips Inc. (NASDAQ:DRYS) shares over potential securities laws violations by DryShips Inc. was announced and NASDAQ:DRYS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/16/2017 -- DryShips Inc is under investigation over possible violations of securities laws. The investigation was announced for investors in NASDAQ:DRYS shares in connection with certain financial statements made by DryShips Inc.
Investors who purchased shares of DryShips Inc. (NASDAQ:DRYS), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by DryShips Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
DryShips Inc. reported that its annual Total Revenue declined from $969.83 million in 2015 to $51.93 million in 2016 and that its Net loss decreased from over $2.84 billion in 2015 to $198.69 million in 2016. From November 9 through November 16, 2016, DryShips Inc's stock price rose from $163 to $2,336 per share.
The Wall Street Journal reported "A day after shares peaked," DryShips Inc. "embarked on a series of stock sales totaling more than $500 million," and continued to describe how DryShips sold its stock to Kalani Investments, which then sold the stock to "small investors." It was further promoted that this "sequence of events" could "yield" George Economou, DryShips Inc's Chairman and Chief Executive Officer, "tens of millions in profits."
On May 15, 2017, NASDAQ:DRYS shares closed at $4.45 per share.
Those who purchased shares of DryShips Inc. (NASDAQ:DRYS) have certain options and should contact the Shareholders Foundation.
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