A US investor in DryShips is trying to stop George Economou from issuing new shares to Kalani Investments at deep discounts, according to a lawsuit filed in the Marshall Islands.
The investor, Michael Sammons, owns 45,000 shares in the Nasdaq-listed diversified shipowner. He alleges in the shareholder derivative lawsuit that Economou and DryShips "intentionally and recklessly breached their fiduciary duties" with the ongoing sale of DryShips' common stock at deep discounts to the company's tangible book value.
