SEAWORLD, FORMER CEO SETTLE SEC INVESTIGATION

SeaWorld Entertainment and one of the company’s former CEOs have agreed to pay $5 million to resolve federal accusations they failed to properly disclose the negative impact of a damaging documentary. The U.S. Securities and Exchange Commission said Tuesday it reached the settlement with SeaWorld and ex-CEO James Atchison over their “untrue and misleading statements or omissions” regarding the impact of the documentary “Blackfish” on “the company’s reputation and business.” SeaWorld will pay a fine of $4 million, while Atchison will pay $1 million, which includes a fine and compensation disgorgement. Neither admitted any wrongdoing nor denied the allegations, according to the SEC.