Theme park operator SeaWorld Entertainment Inc. has revealed it is being probed by two federal agencies.
It received subpoenas from the US Justice Department and Securities and Exchange Commission regarding its response to the ‘Blackfish’ fallout.
The agencies are looking at ‘disclosures and public statements’ made regarding the ‘impact of the ‘Blackfish’ documentary’ on its stock price.
In August the share price sank by more a third in a single day.
Just months earlier, then-CEO Jim Atchison said Blackfish had ‘no noticeable impact on our business,’ and company data at the time ‘didn’t reflect any shift in sentiment about intent to visit our parks’.
A SeaWorld spokeswoman said the company is cooperating with the government on the investigations but would not make any further comment.
SeaWorld is already facing a class action lawsuit by investors for being ‘reckless’ in not facing up to the impact of the Blackfish backlash, causing major losses for shareholders.
A trial date for the case has been set for September 18 2018.
