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EQUITY ALERT: The Rosen Law Firm Announces Securities Fraud Class Action Against DreamWorks Animation SKG Inc. -- DWA

NEW YORK, Aug. 4, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of purchasers of DreamWorks Animation SKG Inc. (Nasdaq:DWA) securities during the period from October 29, 2013 through July 29, 2014, seeking to recover damages for DreamWorks investors stemming from alleged violations of the federal securities laws.

To join the DreamWorks class action, visit the firm's website at http://www.rosenlegal.com/cases-325.html or call Phillip Kim, Esq. or Yu Shi, Esq. toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or lrosen@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The lawsuit asserts violations of the federal securities laws against DreamWorks and its officers and directors for issuing false and misleading statements about the Company's financial performance. The Complaint alleges that DreamWorks:

  • improperly accounted for the Turbo movie prior to its write-down;
  • improperly accounted for the write-down related to the Turbo movie;
  • issued misleading financial statements as a result of its accounting for the Turbo movie.

On July 29, 2013, DreamWorks disclosed that the Securities & Exchange Commission is investigating its accounting for the $13.5 million write-down in connection with the poor performance of the Turbo movie. When the market learned of these accounting improprieties, DreamWorks' stock price dropped more than 11.0%, damaging investors. The class action seeks to recover investors' losses.

If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Yu Shi, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or yshi@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com/cases-325.html. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Yu Shi, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com yshi@rosenlegal.com www.rosenlegal.comSource: The Rosen Law Firm PA PC