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    SeaWorld, ex-execs must pay $5M to settle “Blackfish” claim

    By SHOOTUpdated:No Comments2709 Views
    A scene from "Blackfish"

    By Mike Schneider

    ORLANDO, Fla. (AP) --

    SeaWorld and two former executives on Tuesday agreed to pay more than $5 million to settle federal fraud claims that they misled investors about the negative impact the 2013 documentary "Blackfish" had on business.

    The U.S. Securities and Exchange Commission filed the complaint in federal court in New York as well as the proposed settlements, which are subject to court approval. The SEC's complaint alleged SeaWorld and former CEO James Atchison made misleading and false statements or omissions in SEC filings, earnings releases and calls about the documentary's impact on the company's reputation and business from December 2013 to August 2014.

    During the first three months of 2014, Atchison sold stock as part of a trading plan he had entered into before that period, allowing him to avoid losses of almost $740,000, according to the complaint.

    In August 2014, SeaWorld for the first time made a filing with the SEC that revealed the company was facing declining attendance following the movie's release. The company's stock price plummeted by a third and SeaWorld's stock was downgraded by analysts, causing an $830 million loss in shareholder value, according to the SEC complaint.

    "The defendants should have known that the 'Blackfish' effect, if and when such occurred, would be material to investors," the complaint said.

    Directed by Gabriela Cowperthwaite, "Blackfish" chronicled the life of Tilikum, an orca that killed a SeaWorld trainer during a performance in Orlando in 2010.

    In a statement, SeaWorld said the company neither admits nor denies the allegations under the settlement.

    "The company is pleased to have resolved this matter and to continue to focus on delivering superior guest experiences, world-class animal care and rescuing animals in need," said the statement from corporate communications director Travis Claytor.

    Online court records didn't show attorneys for Atchison or Fred Jacobs, SeaWorld's former vice president of communications.

    Under the settlement proposal, SeaWorld would pay a $4 million penalty, Atchison would pay more than $1 million for a penalty and pay-back and Jacobs would pay $100,000 in pay-back.

    Tags:BlackfishGabriela CowperthwaiteSeaWorld



    Football Practice Preps Nikki Glaser For Hosting The Golden Globes

    Thursday, December 26, 2024
    Nikki Glaser stands on the field after NFL football game between the Los Angeles Chargers and the Denver Broncos, Thursday, Dec. 19, 2024, in Inglewood, Calif. (AP Photo/Eric Thayer)

    What do Tom Brady, Taylor Swift and comedy have to do with learning about football?

    In the case of Nikki Glaser, it is all intertwined.

    Glaser has become a familiar face to football fans this season. Her breakthrough performance at the Tom Brady Roast on May 5 paved the way for five appearances on Amazon Prime Video's "Thursday Night Football" postgame show.

    Before last Thursday's game between the Denver Broncos and Los Angeles Chargers, Glaser said doing her "Late Hits" segment was a no-brainer following her success at the Brady roast.

    "The football audience is kind of familiar with me already. It's one that is OK with me not knowing every detail about football or expecting me to be an expert about it because I was who I was on the Brady Roast. I kind of admitted to not really following football that much," Glaser said. "And I became a fan of Tom Brady and the sport in doing it through that process. So then I was like, 'Let me just keep learning about football through joking about it.' And that was kind of my goal."

    Glaser admits her knowledge of football is not all the way there yet. Still, it is further ahead than it was a year ago when she started casually watching Chiefs games due to Swift's relationship with Kansas City tight end Travis Kelce.

    And mostly then, it was to see when Swift appeared on screen.

    However, Glaser decided to start learning more about the game, which she compared to trying to learn a new language.

    "I went my whole life putting on blinders because I was just scared to look stupid if I tried to learn. I always thought football fans would be really judgmental and cruel about my lack of knowledge. But they're not," Glaser said. "They're eager for you to understand and... Read More

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