Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Boeing Signals Progress on Delayed 777X Program With Planned April First Flight 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
NEW YORK, Aug. 04, 2017 -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of DryShips Inc. (NASDAQ:DRYS) who purchased shares between June 8, 2016 and July 12, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) Defendants engaged in a systemic stock-manipulation scheme to artificially inflate DryShips’ share price; (ii) DryShips’ transactions with Kalani Investments Ltd. were an illegal capital-raising scheme, due in part to Kalani’s failure to register as an underwriter with the SEC; and (iii) as a result of the foregoing, DryShips’ public statements were materially false and misleading at all relevant times. On July 13, 2017, The Wall Street Journal published an article describing how DryShips’ influxes of cash resulting from these transactions stoked investor interest in the Company, allowing it to issue further shares, which it then continued to sell to Kalani. Then, to counter share-value dilution, DryShips executed a series of reverse stock splits. The article suggests that, because Kalani purchased DryShips stock with the intention of reselling, the transactions between DryShips and Kalani constituted “pseudo-underwriting.”
Shareholders have until September 12, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/dryships-inc?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Joseph Klein, Esq. Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com
