DreamWorks Animation has been hit with a shareholder lawsuit alleging the company misled investors about the poor performance of its 2013 movie "Turbo.".
Charles Paddock, a DreamWorks shareholder suing on behalf of himself and other investors, alleges DreamWorks Animation failed to disclose the poor results of the film in a timely fashion, according to a complaint recently filed in the U.S. District Court in Los Angeles.
"As a result of the defendants' wrong acts and omissions, and the precipitous decline in the market value of the company's securities, plaintiff and other class members have suffered significant losses and damages," the lawsuit states. ...
If it isn't under-performing hits, it's (allegedly) inadequate information regarding flops.
Apparently these are shareholder that missed the tutorial on market risk. In "free markets" (and I'll tell you when I find one), stock purchasers can make money or lose money. It's the way it usually works.
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1 comments:
Box office results are available almost as they are happening. How much more timely do you want to be?
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