NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into SeaWorld Entertainment, Inc. (NYSE: SEAS).
On August 13, 2014, SeaWorld revealed for the first time that plummeting attendance figures at its parks dating back to 2013 were due to public and media fallout caused by an documentary film, Blackfish, that exposed the poor treatment and living conditions of the sea creatures featured in the Company’s parks, among other things, despite the Company having specifically denied this fact and blamed the decline on other causes in numerous public statements throughout 2013 and 2014.
On this news, the price of SeaWorld’s shares plummeted almost 33% of their value, falling from $28.15 per share at closing on August 12, 2014 to $18.90 per share on August 13, 2014, on extremely heavy volume.
Thereafter, SeaWorld and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. That case continues on to the present as, on September 29, 2016, the court tentatively denied a motion to dismiss the case filed by the defendants.
KSF’s investigation is focusing on whether SeaWorld and/or its officers and directors violated state or federal securities laws.
If you are a SeaWorld shareholder and have suffered losses, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.