SEC v. SeaWorld Entertainment and James Atchison and SEC v. Frederick D. Jacobs
SeaWorld Fair Fund
Case No. 1:18-CV-08480 and Case No. 1:18-CV-08482

Welcome to the SeaWorld Fair Fund Website

Individuals and entities who purchased stock in the company listed below (the "Eligible Security") during the corresponding Relevant Period and suffered a loss as a result of the conduct described in the Complaint in the above Civil Action, may be eligible for a distribution from the SeaWorld Fair Fund (the "Fair Fund").

Company Name Trading Symbol(s) Relevant Period Start Date Relevant Period End Date
SeaWorld Entertainment Inc. SEAS 12/20/2013 08/12/2014

In addition to reviewing the information on this website, you should review the Distribution Plan Notice and the Distribution Plan approved by the Court, both of which you can find on the “Important Documents” tab on this website.

You should visit this website often to get the most up-to-date information on the SeaWorld Fair Fund.


The Civil Action

On September 18, 2018, the SEC filed a Complaint against SeaWorld and Atchison.  The SEC alleged that the defendants made untrue and/or misleading statements or omissions in SEC filings, earnings releases and calls, and other statements to the press regarding the impact of the documentary film Blackfish on the Company’s reputation and business (i.e., “Blackfish effect”).  According to the Complaint, released in July 2013, Blackfish criticized SeaWorld’s treatment of its orcas (killer whales) and received significant media attention that escalated as the film became more widely distributed.  The SEC alleged that, in connection with the offer and sale of SeaWorld stock, the defendants engaged in a course of business that by failing to disclose the Blackfish effect to investors they should have known would operate as a fraud or deceit upon the purchasers of the Securities.

According to the Complaint, from January through March 2014, Atchison sold shares of SeaWorld stock, resulting in the inflation of the Security and allowed Atchison to avoid losses of approximately $730,860.  As alleged in the Complaint, on August 13, 2014, SeaWorld acknowledged for the first time that its declining attendance was, among other factors, partially caused by negative publicity connected to Blackfish.  According to the Complaint, SeaWorld’s stock price fell approximately 33% following this announcement, causing a loss of approximately $830 million in shareholder value. On September 18, 2018, the SEC also filed a Complaint against Jacobs.

The SeaWorld Fair Fund, the Tax Administrator and the Distribution Agent

On October 4, 2018, the Defendants, without admitting or denying the allegations, consented to the entry of final judgments against each of them that imposed a total of approximately $5.1 million in financial remedies.  The Court ordered SeaWorld to pay a civil penalty of $4,000,000; Atchison to pay disgorgement of $730,860, prejudgment interest of $119,323 and civil penalty of $150,000; and Jacobs to pay disgorgement of $84,885 and prejudgment interest in the amount of $14,720. The Defendants paid in full, and the funds have been deposited in a Commission designated account at the United States Department of Treasury. On December 4, 2020, the Court entered an Order consolidating the two civil actions for the purposes of distributing the funds paid by the Defendants to harmed investors.

On December 15, 2020, the Court entered an Order establishing a Fair Fund for the $5,266,679.31 in funds collected from Defendants, appointing Miller Kaplan Arase LLP as Tax Administrator, appointing JND Legal Administration as the Distribution Agent, and authorizing payment of administrative fees and expenses and tax obligations without further order of the Court.

The Distribution Plan

On May 22, 2023, the United States District Court for the Southern District of New York approved Distribution Plan for the SeaWorld Fair Fund (the “Plan”).  The Plan governs the administration and distribution of the SeaWorld Fair Fund and sets forth the method and procedures for distributing the assets of the SeaWorld Fair Fund to investors harmed by the conduct alleged in the Complaint. 


If you invested in the Eligible Security during the corresponding Relevant Period; are not an Excluded Party as defined in the Plan; and suffered a loss according to the Plan, you may be eligible for a distribution from the SeaWorld Fair Fund.

To be considered for a Distribution Payment, you must submit a completed and signed Claim Form including adequate documentation for claimed transactions. If you believe you may be eligible for a distribution and are not an Excluded Party, you must submit a completed and signed Claim Form to the Distribution Agent no later than October 19, 2023.

How do I obtain more information?

Additional information can be found by visiting the “Important Documents” tab or the “Frequently Asked Questions” tab visible at the top of this webpage. If you have questions not answered through this website, you may contact the Distribution Agent toll-free at 1-855-533-0228, by email at, or by mail at:

SeaWorld Fair Fund
c/o JND Legal Administration
PO Box 91190
Seattle, WA 98111

To view the official SEC website for the SeaWorld Fair Find, please visit

For More Information

Visit this website often to get the most up-to-date information.

SeaWorld Fair Fund
c/o JND Legal Administration
PO Box 91190
Seattle, WA 98111