July 24, 2020
On July 24, 2020, Judge Michael Anello of the United States District Court for the Southern District of California, San Diego Division, granted final approval of the $65 million settlement in the SeaWorld Entertainment Securities Fraud Litigation that Nix Patterson and its co-counsel obtained on behalf of its client, the Arkansas Public Employees Retirement System (“APERS”), and the Class of investors in SeaWorld securities previously certified by the Court.
Now finally approved, the class action settlement provides for the payment of $65 million by SeaWorld Entertainment, Inc. Nix Patterson and its co-counsel obtained the settlement after more than 5 years of hard fought litigation and only 1 week prior to jury selection in what would have been a monthlong trial in San Diego, California.
The case alleged that SeaWorld, its senior executives and its controlling shareholder lied to the market about the effects that the documentary, Blackfish, was having on SeaWorld’s business. The matter, Baker v. SeaWorld Entertainment, Inc., et al., Case No. 3:14-cv-2129, was litigated before Judge Michael Anello in the United States District Court for the Southern District of California, San Diego Division.
Nix Patterson’s representation of APERS and the certified Class was led by NP partners Jeffrey Angelovich and Susan Whatley, senior associate Cody Hill, and associate Nathan Hall.