Diana Containerships Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||Diana Containerships Inc|
|Stock Symbol :||NASDAQ: DCIX|
|Class Period Start:||01/26/2017|
|Class Period End:||10/03/2017|
|Lead Plaintiff motion:||12/22/2017|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the Eastern District of New York|
Thieler Law Corp advises investors with losses exceeding $100,000 of the December 22, 2017 lead plaintiff deadline in a class action lawsuit filed against Diana Containerships Inc (NASDAQ: DCIX) (“Diana” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased Diana Containerships Inc securities between January 26, 2017 and October 3, 2017, have until December 22, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Diana Containerships Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing firstname.lastname@example.org . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendant Symeon P. Palios, the Company’s CEO and Chairman of the Board, caused Diana to engage in a series of manipulative share issuance/sales transactions with Kalani Investments Ltd, a British Virgin Islands firm, and related entities ("Kalani").
On January 26, 2017, the Company filed a shelf registration statement for the sale of $250 million of Company securities. Diana then sold large volumes of its common shares (and securities convertible into common shares) to Kalani at a significant discount to the market price and Kalani resold those shares to the market. In January 2017, the Company stock was trading at a Class Period high of over $2,500 per share on an adjusted basis. As the Company's share price dropped following Kalani's sales, the Company executed a series of reverse stock splits that had the effect of raising its share price while diluting existing shareholders and eliminating 99 percent of the value of outstanding common stock.
As a result of defendants’ stock manipulation scheme, the complaint alleges that by October 3, 2017, Diana common stock, which traded at a price of more than $2,500 per share on an adjusted basis during the early part of the Class Period, was worth only $0.47 per share.
If you were negatively impacted by your investment in Diana Containerships Inc securities between January 26, 2017 and October 3, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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