Company News

BRIEF-Dryships believes recently filed derivative lawsuit, motion for temporary restraining order, preliminary injunction are without merit

July 4 (Reuters) - Dryships Inc:

* Dryships inc. Believes that recently filed derivative lawsuit and motion for a temporary restraining order and preliminary injunction to suspend further issuances of common shares below a certain price are without merit

* Dryships Inc - ceo and chairman of co’s board Economou have been named as defendants in lawsuit filed in high court of republic of marshall islands

* Lawsuit alleges breaches of fiduciary duty, unjust enrichment, and conflict of interest

* Co and management have reviewed complaint and motion and believe them to be “without merit”

* Dryships - plaintiff seeks temporary restraining order, preliminary injunction to suspend issuances of common shares by co at price below specified by plaintiff Source text for Eikon: Further company coverage: