ReleaseWire said:San Diego, CA -- (ReleaseWire) -- 08/18/2014 -- An investigation on behalf of investors of SeaWorld Entertainment Inc (NYSE:SEAS) shares over potential securities laws violations by SeaWorld Entertainment and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SeaWorld Entertainment Inc (NYSE:SEAS) concerning whether a series of statements by SeaWorld Entertainment regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
SeaWorld Entertainment Inc went public in April 2013 and shares of SeaWorld Entertainment Inc (NYSE:SEAS) reached $38.88 per share in May 2013.
On March 13, 2014, SeaWorld Entertainment Inc announced “record” fully year 2013 result. SeaWorld Entertainment Inc reported that its Total Revenue rose from over $1.42 billion in 2012 to over $1.46 billion in 2013 and that its Net Income declined from $77.44 million in 2012 to $50.48 million in 2013.
On April 3, 2014, SeaWorld Entertainment Inc announced the pricing of its secondary offering.
On May 14, 2014, SeaWorld Entertainment Inc reported its first quarter 2014 results. SeaWorld Entertainment Inc reported that its first quarter Revenue declined from $238.61 million in 2013 to $212.29 million in 2014 and that its first quarter Net Loss increased from $40.36 million in 2013 to $49.43 million in 2014.
Then on August 13, 2014, SeaWorld Entertainment Inc reported its second quarter 2014 results. Among other things, SeaWorld Entertainment Inc disclosed that its second quarter Revenue declined from $411.3 million in 2013 to $405.2 million in 2014 and issued its guidance for the full year of 2014.
Shares of SeaWorld Entertainment Inc (NYSE:SEAS) declined to as low as $17.83 per share on August 14, 2014.
Those who purchased shares of SeaWorld Entertainment Inc (NYSE:SEAS) have certain options and should contact the Shareholders Foundation.