| Company: | DreamWorks Animation SKG |
| Ticker Symbol: | DWA |
| Class Period: | Oct-29-13 to Jul-29-14 |
| Date Filed: | Aug-4-14 |
| Lead Plaintiff Deadline: | Oct-3-14 |
| Court: | Central District of California |
| Allegations: | |
DreamWorks Animation is engaged in the development, production and exploitation of animated films and their associated characters worldwide through feature films, television, and consumer products.
The complaint alleges that during the Class Period defendants made false and/or misleading statements and/or failed to disclose that: DreamWorks Animation failed to take a timely write-down for Turbo, a 2013:feature film about a supercharged snail. The Company's net income for the fiscal year of 2013 was materially overstated.The Company lacked adequate internal and control over financial reporting.The Company's financial statements were materially false and misleading at all relevant times.
On July 29, 2014, the Company disclosed that the Securities and Exchange Commission has been conducting an investigation related to the Company's prior write-down of film inventory for Turbo. DreamWorks Animation also reported a larger-than-projected 2014 second-quarter loss and sales that fell short of analysts' forecasts. As a result of this news, DreamWorks Animation shares fell nearly 12 percent , or $2.68 per share, on extremely heavy trading volume, to close at $19.98 on July 30, 2014.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
