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Dreamworks Beats Securities Suit Over Sluggish 'Turbo' Toon

Law360, Los Angeles (April 1, 2015, 7:59 PM EDT) -- A California federal judge on Wednesday tossed a consolidated securities class action against Dreamworks Animation SKG Inc. alleging the company misled investors about the success of the animated movie "Turbo" and was too slow to take its $13.5 million write-down, saying the investors failed to show falsity or scienter.

U.S. District Judge S. James Otero dismissed the complaint with leave to amend, saying the plaintiffs' claim that Dreamworks CEO Jeffrey Katzenberg said during earnings calls that the movie would be successful appeared to allege fraud-by-hindsight —...
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