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Tuesday, July 12, 2005

DreamWorks Nightmare: Insider Trading?

"Suspicious sales of DreamWorks Animation stock could be at the core of the Securities and Exchange Commission's look into the studio's dealings.

This morning, in a planned conference call for investors, DreamWorks Animation conceded that the SEC had questions about the way their stock was traded. (DreamWorks recently spun off their animation company, thus creating stock and a public entity open to scrutiny not accorded the main company.)

The company also announced that it had dropped plans to pursue a new stock offering to raise $500 million. They also said that for the last eight weeks, they'd been conducting an analysis of their DVD sales."
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