NPR Defeats Motion to Dismiss by Seaworld Entertainment
October 7, 2016
NPR serves as co-Lead Counsel in this action on behalf of Lead Plaintiff Arkansas Public Retirement System, representing a class of investors in SeaWorld securities in the United States District Court for the Southern District of California. The class alleges that SeaWorld made false and misleading statements concerning the cause of its unprecedented attendance declines in 2013 and 2014, which came on the heels of the documentary, Blackfish, a film that indicted the very core of SeaWorld’s operations. On September 30, 2016, District Judge Michael Anello denied the defendants’ motion to dismiss the Second Amended Complaint in its entirety. Judge Anello found NPR adequately pled each element of Section 10b and Rule 10b-5 of the Securities Exchange Act against SeaWorld, and that NPR also sufficiently pled violations of Section 20(a) against the individual defendants and The Blackstone Group, L.P., as control persons.
NPR’s complex litigation team—partners Jeff Angelovich, Brad Beckworth and Susan Whatley and associates Lisa Baldwin, Trey Duck, and Drew Pate—lead the prosecution of this case.