September 18, 2018

SeaWorld and its former CEO, James Atchison, have agreed to pay a combined total of $5 million to settle charges of violating the antifraud provisions of federal securities laws. In a complaint filed by the SEC in New York, the defendants were alleged to have mislead investors about how the 2013 documentary, Blackfish—which condemned the company for allegedly mistreating orcas—had led to a drop in attendance numbers and negatively affected its business. Another employee, former VP of communications, Frederick D. Jacobs, will pay a lower fine of $100,000 for his significant contributions to the investigation. SEC

Tagged in: Misrepresentations, Securities Fraud,