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SeaWorld shares drop Monday to 2017 low after disclosure of federal subpoena

 
Killer whales perform at Shamu Stadium at SeaWorld in Orlando in 2011, before public pressure was placed on the theme park company to curtail its orca shows.SeaWorld has since announced an end to the traditional killer whale entertainment  at its theme parks. [AP Photo/Phelan M. Ebenhack]
Killer whales perform at Shamu Stadium at SeaWorld in Orlando in 2011, before public pressure was placed on the theme park company to curtail its orca shows.SeaWorld has since announced an end to the traditional killer whale entertainment at its theme parks. [AP Photo/Phelan M. Ebenhack]
Published June 26, 2017

The Orlando parent company of SeaWorld and Busch Gardens theme parks saw its stock drop 3.5 percent Monday to $15.10, its lowest price of this year.

The decline followed news that SeaWorld Entertainment was subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary film critical of SeaWorld's use of captive killer whales in theme park shows. Disclosure of the subpoena appeared in recent SeaWorld regulatory filings.

The investigation by the U.S. Department of Justice and Securities and Exchange Commission will also look at trading in SeaWorld shares before and during August 2014. SeaWorld said it's cooperating with the probe. Its board has organized a special committee of independent directors, with their own legal counsel, to deal with the matter.