SeaWorld Entertainment Inc. agreed on Tuesday to settle a class-action lawsuit stemming from the scathing 2013 documentary “Blackfish” for $65 million, according to court documents.
“Following more than five years of hard-fought litigation, Class Representatives have reached an agreement with Defendants to resolve all claims asserted in the Action and related claims in exchange for a $65,000,000.00 cash payment pursuant to the Stipulation,” the documents state.
A separate document filed with Security and Exchange Commission says the “proposed settlement does not include or constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant.” In that document, SeaWorld said it will fund the settlement with about $45.5 million in insurance proceeds and about $19.5 million in cash.
Also Read: Tilikum, SeaWorld Killer Whale Featured in 'Blackfish,' Dies at 36
The lawsuit, filed back in 2014, accused SeaWorld of misleading investors about just how bad business had gotten in the aftermath of the documentary,...
“Following more than five years of hard-fought litigation, Class Representatives have reached an agreement with Defendants to resolve all claims asserted in the Action and related claims in exchange for a $65,000,000.00 cash payment pursuant to the Stipulation,” the documents state.
A separate document filed with Security and Exchange Commission says the “proposed settlement does not include or constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant.” In that document, SeaWorld said it will fund the settlement with about $45.5 million in insurance proceeds and about $19.5 million in cash.
Also Read: Tilikum, SeaWorld Killer Whale Featured in 'Blackfish,' Dies at 36
The lawsuit, filed back in 2014, accused SeaWorld of misleading investors about just how bad business had gotten in the aftermath of the documentary,...
- 2/11/2020
- by Daniel Goldblatt
- The Wrap
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