DryShips Inc. (“DryShips” or the “Company”), a diversified owner of ocean going cargo vessels, today announced that the High Court of the Marshall Islands (the “Court”) has issued an order denying Plaintiff Michael Sammons’ motion for a preliminary injunction.
The preliminary injunction motion had sought to suspend any further issuances of new common shares by the Company at a price per share below the price specified.
The Court issued its ruling denying the Plaintiff’s request after hearing arguments by counsel for the Plaintiff, DryShips and Mr. Economou. The Court has ordered that defendants answer, move against or otherwise respond to the complaint by August 18, 2017.
The Company and Mr. Economou intend to file motions to dismiss or other appropriate responses to the complaint by the aforementioned deadline set by the Court.