(2013) Tags: DreamWorks Animation
ROOFERS LOCAL NO. 149 PENSION FUND v. DREAMWORKS ANIMATION SKG, INC.
In this putative class action, Plaintiff alleges that Defendants DreamWorks Animation SKG, Inc., Jeffrey Katzenberg, and Lewis W. Coleman made false or misleading statements concerning the ultimate profitability of the animated movie “Turbo” during their announcements of second- and third-quarter financial results in 2013. Plaintiff alleges that those statements artificially inflated the stock price of DreamWorks at a time when Plaintiff bought stock.
Plaintiff sued Defendants under § 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission (“SEC”) Rule 10b-5, and sued the individual Defendants under § 20(a) of the Securities Exchange Act.