Lawsuit Overview
February 17, 2017 - The U.S. Court of Appeals for the Ninth Circuit affirmed the judgement of the district court.
June 18, 2015 - The lead plaintiff filed a notice of appeal.
May 19, 2015 - The court entered a judgement in favor of the defendants and dismissed the case with prejudice.
April 24, 2015 - The court dismissed the case.
April 1, 2015 - The court granted the defendants' motion to dismiss and granted lead plaintiff 15 days leave to file an amended complaint.
December 22, 2014 - The defendants filed a motion to dismiss.
November 25, 2014 - The lead plaintiff filed a corrected amended consolidated complaint.
November 21, 2014 - The lead plaintiff filed an amended consolidated complaint.
October 22, 2014 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.
September 30, 2014 - Lead plaintiff motions were filed.
August 1, 2014 - An investor in shares of Dreamworks Animation Skg Inc (NASDAQ: DWA) filed a lawsuit in the U.S. District Court for the Central District of California against Dreamworks Animation Skg Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between October 29, 2013 and July 29, 2014.
According to the complaint the plaintiff alleges on behalf of purchasers of Dreamworks Animation Skg Inc (NASDAQ:DWA) common shares between October 29, 2013 and July 29, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims 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, Dreamworks Animation Skg Inc's financial statements were materially false and misleading at all relevant times.
Shares of Dreamworks Animation Skg Inc (NASDAQ: DWA) grew from $16.35 per share in December 2012 to as high as $35.74 per share in late December 2013.
On February 25, 2014, Dreamworks Animation Skg Inc reported its fourth quarter and year-end 2013 financial results.
Dreamworks Animation Skg Inc reported that its annual Total Revenue declined from $749.84 million in 2012 to $706.92 million in 2013 while its Net Loss of $36.42 million in 2012 turned to a Net Income of $55.08 million in 2013.
Shares of Dreamworks Animation Skg Inc (NASDAQ: DWA) declined from almost $36 in late December 2013 to $21.93 per share in mid-July 2014.
Then on July 29, 2014, during a conference call with analysts, Dreamworks Animation Skg Inc revealed that Dreamworks Animation Skg Inc 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 August 8, 2014, Dreamworks Animation Skg Inc (NASDAQ: DWA) shares closed at $20.27 per share.