STEVENSON, Md., Sept. 12, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of SeaWorld Entertainment, Inc. ("SeaWorld" or the "Company") (NYSE: SEAS ) common stock pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Offering Documents") 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").
If you have suffered a loss from investment in SeaWorld common stock purchased on or after April 18, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 10, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period. Brower Piven also encourages anyone with information regarding the Company's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants' failure to disclose in the Offering Documents and during the Class Period that the Company had not provided proper care for and had mistreated its Orca population leading to trainer and audience safety issues, that SeaWorld had continued to feature an Orca that had killed and injured numerous trainers, and that the decrease in attendance at its parks was caused by factors other than the improper practices revealed by the documentary film Blackfish .
According to the complaint, following the Company's August 13, 2014 announcement that revenues fell year over year and acknowledged that attendance in the quarter was impacted by media attention regarding proposed legislation in California, the value of SeaWorld's shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616
