BENSALEM, Pa. -- (Business Wire)
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 howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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