SHAREHOLDER ALERT: Investigation on Behalf of SeaWorld Entertainment, Inc. Investors Announced by Law Offices of Howard G. Smith
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of SeaWorld Entertainment, Inc. (“SeaWorld” or the “Company”) (NYSE:SEAS) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by the Company concerning SeaWorld’s operations and financial prospects. SeaWorld is a theme park and entertainment company in the United States, operating marine-life theme parks under the SeaWorld brand name, Busch Gardens theme parks and others.
The investigation is related to allegations that the Company failed to disclose that it had improperly cared for and mistreated its performing killer whales, which adversely impacted trainer and audience safety, and that the Company continued to feature and breed an orca that had killed and injured numerous trainers, which created material uncertainties and risks that could adversely impact attendance at its theme parks. The 2013 documentary film Blackfish examines the animal handling practices of the billion-dollar sea-park industry and focuses on a performing killer whale that killed several people while in captivity.
On August 13, 2014, the Company announced disappointing second quarter 2014 financial results, including a $6.1 million drop in year-over-year revenue. According to the Company, the decline was a result of decreased attendance, “impacted by demand pressures related to recent media attention” related to a proposed ban on keeping orcas in captivity in California. As a result of this news, SeaWorld stock dropped $9.25 per share, or nearly 32%, to close at $18.90 per share on August 13, 2014, on heavy volume.
If you purchased SeaWorld shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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