February 11, 2020
On February 11, 2020, Nix Patterson announced a $65 million settlement on behalf of its client, the Arkansas Public Employees Retirement System (“APERS”), and all investor members of the previously certified Class. The settlement was reached after more than 5 years of hard fought litigation and comes just 1 week prior to jury selection.
On the same date, Nix Patterson moved for preliminary approval of the settlement and anticipates the settlement will receive final approval in June 2020.
Lead NP attorney, Jeffrey Angelovich, said “the result here is particularly gratifying.” The case was dismissed in early 2016, but “we resuscitated it and obtained an outstanding result for the Class,” he said.
The case alleges SeaWorld, its senior executives and its controlling shareholder lied to the market about the effects the documentary Blackfish was having on the Company’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.
NP’s representation of APERS was led by partners Jeffrey Angelovich and Susan Whatley, senior associate Cody Hill, and associate Nathan Hall.