Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In SeaWorld Entertainment, Inc. (SEAS) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in SeaWorld Entertainment, Inc. (“SeaWorld” or the “Company”) (NYSE: SEAS) of the November 10, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against SeaWorld, certain executives and directors, and the Company’s majority shareholder.
A complaint has been filed in the Southern District of California on behalf of all persons who purchased SeaWorld stock pursuant and/or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering commenced on or after April 18, 2013 (the “IPO”) including open market purchases between April 18, 2013 through August 13, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that SeaWorld made false and/or misleading statements and/or failed to disclose during the Class Period that: (i) the Company had not provided proper care for and had mistreated its Orca population leading to trainer and audience safety issues; (ii) SeaWorld had continued to feature an Orca that had killed and injured numerous trainers; and (iii) the decrease in attendance at its parks was caused by factors other than the improper practices revealed by the documentary film Blackfish.
On August 13, 2014, in its earnings announcement for the second quarter of 2014, the Company disclosed that revenues fell year over year and acknowledged that attendance in the quarter was impacted by media attention regarding proposed legislation in California.
Following this news, the price of SeaWorld’s stock declined by $9.25, or over 32%, to close at $18.90 on August 13, 2014.
If you invested in SeaWorld securities pursuant and/or traceable to the Company’s Registration Statement issued in connection with the IPO, including open market purchases between April 18, 2013 through August 13, 2014, and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding SeaWorld’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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