SeaWorld under federal investigation over ‘Blackfish’ denials
Theme park operator SeaWorld Entertainment Inc. revealed it is being probed by two federal agencies.
It received subpoenas from the Justice Department and Securities and Exchange Commission regarding its response to the ‘Blackfish’ fallout.
The agencies are looking at ‘disclosures and public statements’ made regarding the ‘impact of the ‘Blackfish’ documentary’ on its stock price.
In August the share price sank by more a third in a single day.
Just months earlier, then-CEO Jim Atchison said Blackfish had ‘no noticeable impact on our business,’ and company data at the time ‘didn’t reflect any shift in sentiment about intent to visit our parks.’
A SeaWorld spokeswoman said the company is cooperating with the government on the investigations but would not make any further comment.
SeaWorld is already facing a class action lawsuit by investors for being ‘reckless’ in not facing up to the impact of the Blackfish backlash, causing major losses for shareholders.
A trial date for the case has been set for September 18, 2018.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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