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Diana Containerships: Class Action

Diana Containerships

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Diana Containerships (NASDAQ: DCIX) in connection to alleged violations of securities laws by DCIX. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Diana Containerships between January 26, 2017 and October 3, 2017.

The class action complaint specifically alleges that during the period in question, DCIX might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company was caused by its Chief Executive Officer and Chairman of the Board, Symeon P. Palios, to participate in multiple manipulative share issuance and other sales transactions with Kalani Investments Limited and other entities that were designed to provide DCIX with financing that specifically benefited Palios, certain of his other companies, his family members, and other insiders. The complaint alleges that when true facts emerged, investors suffered losses.

According to the company‚Äôs website, Diana Containerships is “a global provider of shipping transportation services through its ownership of containerships.” Its vessels operate mainly as time charters with liner companies that carry containerized cargo across global shipping routes. The company owns and operates eleven container vessels as of October 2017, according to its website, and its fleet is managed by its wholly-owned subsidiary, Unitized Ocean transport Limited. Symeon P. Palios is the company’s Chief Executive Officer; Anastasios C. Margaronis is President; Andreas Michalopoulos is Chief Financial Officer and Treasurer; Ioannis Zafirakis is Chief Operating Officer and Secretary.

A class action lawsuit has already been filed in connection with Diana Containerships. If you wish to serve as lead plaintiff in the DCIX lawsuit, you must move the Court no later than December 22, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.

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