Diana Containerships Inc. (NasdaqGS: DCIX)

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 22, 2017 to file lead plaintiff applications in a securities class action lawsuit against Diana Containerships Inc. (NasdaqGS: DCIX), if they purchased the Company’s shares between January 26, 2017 and October 3, 2017, inclusive (the “Class Period”).  This action is pending in the United States District Court for the Eastern District of New York.

What You May Do

If you purchased shares of Diana and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 22, 2017.

About the Lawsuit

Diana and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

Throughout 2017, Diana engaged in a stock scheme of selling its shares to Kalani Investments Limited and related entities at a deeply discounted rate then filing registration statements enabling Kalani to resell the shares.  When the selloff caused a share price decline, the Company would artificially raise the price via a reverse stock split, merging the shares.

As a result of this scheme, the price of Diana’s common stock, which traded at more than $2,500 per share in early 2017, plummeted to $0.47 per share.