DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against DreamWorks Animation SKG Inc. (“DreamWorks” or “Company”) (NasdaqGS: DWA) and several officers and directors for acts taken during the period of October 29, 2013 to July 29, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of DreamWorks. If you are an affected DreamWorks shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at email@example.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that the Company misrepresented and/or failed to disclose that DreamWorks failed to timely take a write-down for its Turbo movie, which substantially inflated the Company’s net income for the fiscal year of 2013. This failure shows that the Company lacked the necessary internal controls over financial reporting. Due to these things DreamWorks’ financial statements were materially false and misleading at all relevant times. According to the complaint, when the truth came out DreamWorks’ stock plummeted.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.