NEW YORK, May 1, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, has commenced an investigation into DryShips, Inc. (NASDAQ: DRYS) ("DryShips" or the "Company") related to potential violations of federal securities laws. If you are a DryShips shareholder, you are encouraged to contact Scott+Scott for additional information.
DryShips is an offshore drilling business and operates dry-bulk carriers, transporting commodities such as iron ore, coal, and grain.
Between November 9 and November 16, 2016, DryShips' stock price rose from $163 to $2,336 per share. It was reported in the Wall Street Journal that "A day after shares peaked," DryShips "embarked on a series of stock sales totaling more than $500 million." The Wall Street Journal further reported that DryShips sold the stock to Kalani Investments, which in turn sold the stock to "small investors." It was further reported that this "sequence of events" could "yield" George Economou, DryShips' Chairman and Chief Executive Officer, "tens of millions in profits."
Since the mid-November peak at $2,336, DryShips' shares have fallen 99.9%, to $1.30 as of April 28, 2017.
What You Can Do
If you are a DryShips shareholder who purchased shares in connection with the November offerings and you wish to discuss this investigation, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California and Ohio.
Scott+Scott, Attorneys at Law, LLP
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SOURCE Scott+Scott, Attorneys at Law, LLP