Tuesday, October 24, 2017

Shipping: Here Come the Securities Attorneys—Diana Was Pulling A Dryships (DCIX; DRYS)

A heads-up from Splash 24/7:


Now the interesting thing is, the Diana/Kalani connection is not new. Splash 24/7 themselves had a story back in March:
Diana Containerships Raising $150m With Kalani Investments Deal

And somebody at Seeking Alpha was keeping track as well. In July: "Diana Containerships Adopts DryShips Model (Kalani); Reverse Split Again" and again in August: "DryShips, TOP Ships, Diana Containerships And Kalani"

So I have to assume the lawyers were napping.
However...once the hounds start baying: A couple hours after:
DIANA CONTAINERSHIPS INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Diana Containerships, Inc. To Contact The Firm

We got:
Oct. 23 
Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Diana Containerships Inc.

And probably more today.

On Dryships, Paul Murphy at FT Alphaville had a couple looks:
Shipping: More On the Scam That Is Dryships AND a Tiny Treasure From The Past (DRYS)
Equity Conundrums: Who Buys DryShips? (DRYS)