An investigation on behalf of current long term investors in SeaWorld Entertainment Inc (NYSE:SEAS) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:SEAS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/30/2014 -- The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of SeaWorld Entertainment Inc (NYSE:SEAS) was initiated concerning potential breaches of fiduciary duties by certain directors and officers of SeaWorld Entertainment.
Investors who are current long term investors in SeaWorld Entertainment Inc (NYSE:SEAS) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE:SEAS stocks follows a lawsuit filed recently against SeaWorld Entertainment Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:SEAS stocks, concerns whether certain SeaWorld Entertainment) officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of California the plaintiff alleges that SeaWorld Entertainment Inc allegedly failed to disclose in its initial public offering (“IPO”) documents that it had improperly cared for and mistreated its Orca population which adversely impacted trainer and audience safety, that it continued to feature and breed an Orca that had killed and injured numerous trainers, and that it consequently created material uncertainties and risks existing at the time of IPO that could adversely impact attendance at its family oriented parks.The plaintiff claims that that when details of the Company's alleged improper practices were revealed by the documentary film Blackfish, SeaWorld Entertainment Inc allegedly misled investors by claiming the decrease in attendance at its parks was caused by Easter holiday and other factors. The plaintiff asserts that the decline in attendance was really caused by the mounting negative publicity from the alleged improper practices at SeaWorld Entertainment Inc that were revealed by the Blackfish film.
On August 13, 2014, SeaWorld Entertainment Inc reported its second quarter 2014 results. Among other things, SeaWorld Entertainment Inc disclosed that its second quarter Revenue declined from $411.3 million in 2013 to $405.2 million in 2014 and issued its guidance for the full year of 2014. Shares of SeaWorld Entertainment Inc (NYSE:SEAS) declined to as low as $17.83 per share on August 14, 2014.
On September 26, 2014, NYSE:SEAS shares closed $19.98 per share.
Those who purchased shares of SeaWorld Entertainment Inc (NYSE:SEAS) have certain options and should contact the Shareholders Foundation.
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