Leland Wykoff Posted September 19, 2018 Share Posted September 19, 2018 SeaWorld settles SEC complaint and agrees to pay $4 million in fines. Once again the SEC has entered into a settlement agreement which does not require the admission of guilt. Several academic studies have questioned the wisdom of such settlements. Shareholders harmed by the SeaWorld deception will not recover as a result of the settlement. Former CEO James Atchison will also provide funds of $1 million in settlement. http://www.sandiegouniontribune.com/business/tourism/sd-fi-seaworld-sec-settlement-20180918-story.html#nws=mcnewsletter Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted September 19, 2018 Share Posted September 19, 2018 I can't really speak to the specifics, but in talking to a lot of the people who were ringside when all of this went down, SeaWorld had been under scrutiny since the beginning with groups like PETA. This isn't the first documentary made in this vein. They handled it the way they handled every other instance - letting it blow over. It worked until it didn't. CNN picked up on the trend and began airing Blackfish almost monthly, which was completely unanticipated. I'm not sure what the legality should or would have been for disclosing how this affected the business, but I do know that initially they truly believed that it wouldn't have much affect. They were greatly mistaken. Quote Link to comment Share on other sites More sharing options...
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