The Shareholders Foundation announces an investigation on behalf of current long-term investors in shares of Dreamworks Animation Skg Inc (NASDAQ:DWA) is ongoing concerning potential breaches of fiduciary duties by certain directors and officers of Dreamworks Animation Skg.
Investors who are current long term investors in Dreamworks Animation Skg Inc (NASDAQ:DWA) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NASDAQ:DWA stocks follows a lawsuit filed recently against Dreamworks Animation Skg Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:DWA stocks, concerns whether certain Dreamworks Animation officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that between October 29, 2013 and July 29, 2014 Defendants made allegedly false and/or misleading statements and/or failed to disclose that Dreamworks Animation Skg Inc improperly accounted for the Turbo movie prior to the write-down, that Dreamworks Animation Skg Inc improperly accounted for the write-down related to the Turbo movie, that Dreamworks Animation Skg Inc lacked adequate internal and control over financial reporting, and that as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
On July 29, 2014, , during a conference call with analysts, Dreamworks Animation Skg Inc revealed that the Company is under investigation by the Securities and Exchange Commission for the $13.5 million write-down the studio took in February in relation to the poor performance of Turbo. Shares of Dreamworks Animation Skg Inc (NASDAQ:DWA) declined from $22.66 per share on July 29, 2014, to $19.20 per share on July 30, 2014.
On November 17, 2014, NASDAQ:DWA shares closed at $22.31 per share.
Those who purchased shares of Dreamworks Animation Skg Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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