The Nasdaq-quoted bulker owner alerted investors about the dispute with the embattled Taiwanese shipping magnate in a prospectus tied to afundraiser that began Thursday afternoon.
Star Bulk described the case as a “derivative and punitive class action lawsuit” brought a “purported shareholder” against its chief executive, board of directors and several shareholders.
“The lawsuit alleges that our acquisition of Oceanbulk and purchase of several Excel vessels were the result of self-dealing by various defendants and that we entered into the transactions on unfair terms,” it added.
“The
