NEW YORK, Nov. 11, 2017 /PRNewswire/ -- Notice is
hereby given that a class action lawsuit has been filed, on behalf
of shareholders of Diana Containership, Inc, ("Diana" or the
"Company") (NasdaqGS: DCIX) for purchasers of the Company's
securities between January 26,
2017 and October 26,
2017, inclusive (the "Class Period").
The Complaint alleges that, during the Class Period, Defendants
made materially false and misleading statements regarding the
Company's business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (i) through his control of Diana,
Symeon Palios ("Palios") caused
Diana to sell its common shares and securities convertible into
common shares to an entity named Kalani Investments Limited
("Kalani") at a significant discount to market price and to file
registration statements so that Kalani could resell these shares
into the market; (ii) when Kalani's sales of Diana stock caused the
price of Diana stock to decline, the Company would reverse split
the stock, causing a certain number of outstanding shares to be
merged into a single share, and thereby raise the price of Diana
stock; (iii) then Diana would again sell securities to Kalani and
the same pattern of transactions would ensue; (iv) Defendants
failed to disclose the true purpose of the transactions and related
stock issuances and reverses, to provide Diana with financing that
benefited Palios and his related companies and family members and
otherwise funnel money to Company insiders; and (v) as a result of
the foregoing, Diana's public statements were materially false and
misleading at all relevant times.
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.
Mr. Monteverde would like to personally discuss with
you how to potentially recover your monetary losses, if incurred
during the Class Period.
If you wish to serve as lead plaintiff, you must move the Court
no later than December 22,
2017. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
click here for more information:
https://monteverdelaw.com/investigations/securities/ It is free
and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action
securities and consumer litigation law firm committed that has
recovered millions of dollars and is committed to protecting
shareholders and consumers from corporate wrongdoing.
Monteverde & Associates PC lawyers have significant experience
litigating Mergers & Acquisitions and Securities Class Actions,
whereby they protect investors by recovering money and remedying
corporate misconduct.
Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates
PC. Prior results do not guarantee a similar outcome with
respect to any future matter.
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SOURCE Monteverde & Associates PC