SeaWorld settles lawsuit with investors, aims to leave "Blackfish" era behind | Lori Weisberg
SeaWorld Entertainment announced Tuesday that it has agreed to pay $65 million to settle a longstanding lawsuit alleging that the company deceived investors when it failed to disclose early on the ill effect the anti-captivity documentary “Blackfish” was having on park attendance. The settlement comes just a week before a jury trial was to begin for the case, which originated in 2014 and was later certified as a class-action lawsuit. In a Tuesday filing with the Securities and Exchange Commission, SeaWorld said that the settlement does not “constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant.” The proposed $65 million payment, says SeaWorld, is still subject to approval in federal court.
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Show Notes
SeaWorld Entertainment announced Tuesday that it has agreed to pay $65 million to settle a longstanding lawsuit alleging that the company deceived investors when it failed to disclose early on the ill effect the anti-captivity documentary “Blackfish” was having on park attendance.
The settlement comes just a week before a jury trial was to begin for the case, which originated in 2014 and was later certified as a class-action lawsuit. In a Tuesday filing with the Securities and Exchange Commission, SeaWorld said that the settlement does not “constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant.”
The proposed $65 million payment, says SeaWorld, is still subject to approval in federal court.