Haeggquist & Eck, LLP, is investigating SeaWorld Entertainment, Inc. (“SeaWorld” or the “Company”) (NYSE: SEAS) for potential securities law violations in connection with its April 19, 2013, Initial Public Offering (“IPO”).
SeaWorld is a theme park and entertainment company that operates three marine-life theme parks in San Diego, Orlando, and San Antonio. SeaWorld went public in April 2013, and shares of SeaWorld stock reached $38.88 per share in May 2013. Zeldes Haeggquist & Eck, LLP is investigating whether SeaWorld misrepresented or omitted material information from investors in connection with its IPO.
On August 13, 2014, SeaWorld reported earnings and revenue that missed analysts’ estimates. The Company also cut its sales outlook for the year and said it would announce cost-cutting initiatives in the coming days. Upon this news, the price of SeaWorld shares dropped over 30%.