SeaWorld settles class action lawsuit over ‘Blackfish’ for $65 million
Investors claimed former execs misled them about film’s impact
ORLANDO, Fla. – SeaWorld Entertainment, Inc. has settled a class-action lawsuit for $65 million related to the 2013 documentary “Blackfish.”
The lawsuit, filed by a group of shareholders in 2014, accused SeaWorld executives of violating the Securities Exchange Act by making false or misleading statements about how the film was impacting park attendance.
BREAKING: SeaWorld settles class action lawsuit related to #Blackfish film for $65 million for alleged Securities Exchange Act violations. The company does not admit any wrongdoing. A jury trial was scheduled to begin next week. #News6 pic.twitter.com/LSO5FnTiSJ— Mike DeForest (@DeForestNews6) February 11, 2020
According to a filing with the Securities and Exchange Commission Tuesday, the company will make the payout to cover the claims as well as the costs of administration and legal fees.
Despite reaching a settlement, SeaWorld did not admit any wrongdoing.
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