Plaintiffs targeting Top Ships with allegations of stock price manipulation are trying to merge the action with a similar complaint lodged against fellow Greek shipowner DryShips because the cases New York-listed shipowners share a co-defendant: Kalani Investments.
Both legal battles are being waged in the Eastern District of New York and feature charges that the management of the two owners destroyed millions of dollars in share capital through a series of dilutive stock sales and reverse stock splits.
