You are on page 1of 28
 
 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1
Class Action Complaint for Violation of the Federal Securities Laws
Laurence M. Rosen, Esq. (SBN 219683) THE ROSEN LAW FIRM, P.A. 355 South Grand Avenue, Suite 2450 Los Angeles, CA 90071 Telephone: (213) 785-2610 Facsimile: (213) 226-4684 Email: lrosen@rosenlegal.com Counsel for Plaintiff UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA LOU BAKER, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, vs. SEAWORLD ENTERTAINMENT, INC., JIM ATCHISON, JAMES HEANEY, DAN BROWN, MARC SWANSON, DAVID F. D’ALESSANDRO, AND THE BLACKSTONE GROUP L.P. Defendants
.
 CASE No.: COMPLAINT CLASS ACTION
JURY TRIAL DEMANDED
Plaintiff Lou Baker,
 
individually and on behalf of all other persons similarly situated, by his undersigned attorneys, for his
 
complaint against SeaWorld Entertainment, Inc. (“SEAS” or the “Company”), alleges the following based upon  personal knowledge as to himself and his
 
own acts, and information and belief as to all other matters, based upon,
inter alia
, the investigation conducted by and through
 
his attorneys, which included, among other things, a review of the Defendants’
 
'14
CV2129
 JMA
MMA
Case 3:14-cv-02129-MMA-JMA Document 1 Filed 09/09/14 Page 1 of 28
 
 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
2 Class Action Complaint for Violation of the Federal Securities Laws
 public documents, conference calls and announcements made by the Defendants, United States Securities and Exchange Commission (“SEC”) filings, wire and press releases published by and regarding the Company, securities analysts’ reports and advisories about the Company, and information readily obtainable on the Internet. Plaintiff believes that substantial evidentiary support will exist for the allegations set forth herein after a reasonable opportunity for discovery.
NATURE OF THE ACTION
 1.
 
This is a securities class action on behalf of all persons or entities who  purchased SEAS stock pursuant to and/or traceable to the Company’s registration statement and prospectus issued in connection with the Company’s initial public offering commenced on or after April 18, 2013, including open market purchases of SEAS securities during the period between April 18, 2013 to August 13, 2014, inclusive (the “Class Period”), seeking to pursue remedies under Sections 11 and 15 of the Securities Act of 1933 (“Securities Act”) and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). 2.
 
On April 18, 2013 the Company filed with the SEC an amended Registration Statement on Form S-1/A in connection with the an initial public offering (the “IPO”). The Registration Statement also contained a Prospectus and  both documents contained, among other things, the Company’s financial results for the fiscal years ended December 31, 2012.
Case 3:14-cv-02129-MMA-JMA Document 1 Filed 09/09/14 Page 2 of 28
 
 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
3 Class Action Complaint for Violation of the Federal Securities Laws
3.
 
The Registration Statement was declared effective on April 18, 2013, and the Company filed the final prospectus with the SEC on April 19, 2013. 4.
 
The IPO was for 10,000,000 shares of the Company’s common stock at a price of $27 per share. 5.
 
Throughout the Class Period, the Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, prospects and performance, and internal controls. 6.
 
When truth a corrective disclosure was filed by the Company on August 13, 2014, SEAS’s stock price dropped $9.25 per share or 32.9%.
JURISDICTION AND VENUE
 7.
 
The claims asserted herein arise under and pursuant to Sections 10(b) and 20(a) of the Exchange Act, (15 U.S.C. §78j(b) and 78t(a)), and Rule 10b-5  promulgated thereunder (17 C.F.R. §240.10b-5), and pursuant to Sections 11 and 15 of the Securities Act, 15 U.S.C. §§ 77k and 77(o). 8.
 
Court has jurisdiction over the subject matter of this action pursuant to 28 U.S.C. §§ 1331 and 1337 and Section 27 of the Exchange Act, 15 U.S.C. § 78aa, and Section 22 of the Securities Act, 15 U.S.C. §77v. 9.
 
Venue is proper in this District pursuant to Section 27 of the Exchange Act, and 28 U.S.C. § 1391(b) and Section 22 of the Securities Act, 15 U.S.C. § 77v. Defendants maintain their principal executive offices in this District
Case 3:14-cv-02129-MMA-JMA Document 1 Filed 09/09/14 Page 3 of 28

Reward Your Curiosity

Everything you want to read.
Anytime. Anywhere. Any device.
No Commitment. Cancel anytime.

Rate

576648e32a3d8b82ca71961b7a986505