Shipping Co. Beats Investor Suit Over Firm Finances

Law360, New York (November 6, 2012, 11:32 PM EST) -- A Missouri federal judge on Tuesday tossed a proposed class action against DryShips Inc. by investors claiming the Greek drybulk shipping company had misled them about its financial health and found that the investors had not sufficiently backed their securities fraud claims.

U.S. District Judge Rodney W. Sippel granted the defendants’ bid to dismiss the suit, saying that under the stringent pleading requirements of the Private Securities Litigation Reform Act, the investors had not adequately supported their claims that DryShips and its CEO George Economou had...
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