US securities fraud litigation against low-profile Kalani Investments and three Greek shipowners is showing little progress, eight months after the first lawsuits were filed.
Virtually nothing of substance has been decided in four suits brought against owners DryShips, Top Ships and Diana Containerships over their dealings with Kalani.
Instead, plaintiffs and law firms in each case have skirmished over which investors should be allowed to lead the class-action litigation against each company in the US District Court for the Eastern District of New York.
