SeaWorld being investigated for 'Blackfish' documentary statements

Fri, 23 Jun 2017 21:56:41 GMT

SeaWorld Entertainment Inc. disclosed Friday afternoon that the company has received subpoenas from the Department of Justice and Securities and Exchange Commission in regards to statements made about a critical 2013 documentary called "Blackfish." In an SEC filing, the company said the subpoenas concern "disclosures and public statements made by the Company and certain executives and/or individuals on or before August 2014, including those regarding the impact of the "Blackfish" documentary, and trading in the Company's securities." In an earnings report that month, SeaWorld blamed poor earnings on "adverse publicity" regarding the treatment of its Orcas, the subject of the documentary. SeaWorld said that it had formed a special committee of the board to deal with the inquiries, and engaged counsel to assist them. SeaWorld stock, which has never recovered from the sharp decline suffered in 2014, closed with a 1% decline at $15.65 Friday, then declined more than 2% in late trading.

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