Hagens Berman Advises DreamWorks Animation SKG, Inc. Investors of Sept. 30, 2014 Lead Plaintiff Class Action Deadline

        Print
| Source: Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, Aug. 25, 2014 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a top-tier investor-rights law firm, advises investors of the Sept. 30, 2014, lead plaintiff deadline in the securities fraud class action against DreamWorks Animation SKG, Inc. (Nasdaq:DWA) ("DreamWorks" or "the Company"). Investors who purchased DreamWorks stock between Oct. 29, 2013 and July 29, 2014 (the "Class Period") may contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000, emailing DWA@hbsslaw.com or visiting http://hb-securities.com/investigations/DWA.

The complaint, filed in the U.S. District Court for the Central District of California on August 1, 2014, and docketed under 2:14-cv-06053, alleges that DreamWorks knowingly delayed the write-down of losses associated with the Company's film Turbo which premiered in June 2013. Ironically, Turbo is a film about a fast snail and the Company is alleged to have delayed revealing losses associated with the film long enough to mislead investors regarding the financial prospects of the Company. In February 2014, the Company finally informed investors that it would write down $13.5 million associated with Turbo losses and on July 29, 2013, the Company revealed that it was under investigation by the SEC for its eight-month delay in informing investors about the Turbo related write-down.

"DreamWorks Chief Accounting Officer's abrupt departure on May 22, 2014, followed by the announcement that the SEC is investigating the Company's accounting practices for losses associated with Turbo, demonstrate that the Company's CEO is continuing a pattern of disregard for transparency to investors," said Mr. Kathrein.

If you have suffered a loss from your investment in DreamWorks securities purchased on or after October 29, 2013 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. Read the firm's Securities Newsletter at http://www.hb-securities.com/newsletter. The firm's blog is located at www.meaningfuldisclosure.com.

For the latest news from Hagens Berman, visit http://www.hbsslaw.com/newsroom or follow us at @hagensberman.

Reed Kathrein, 510-725-3000