Connect with us

Hi, what are you looking for?

Jewish Business News


Dreamworks CEO Jeffrey Katzenberg’s Snail-Paced Writedowns Get SEC’s Attention


Dreamworks’ CEO Jeffrey Katzenberg is in trouble with the Securities Exchange Commission again over delayed writedowns. Ironically, this time it is a writedown following the making of Turbo, a movie about the world’s fastest snail, but Dreamworks took its time, seven months in fact, before it finally announced a writedown of $13 million on the film, and in late July, it revealed that the SEC had begun investigations. After each announcement, the stock shed 12%, although Katzenberg sold a sizeable amount of stock in October and November at $27.84 and at $32.17, much higher than the stock’s level around $20 now. The SEC is probing the timing of the sale of shares and the reason for the delay in the writedown.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

In the past, Dreamworks has been quicker to write down less-than-successful films, usually in a couple of months, however, this is still slower than the industry average and the issue over Turbo isn’t the first time Katzenberg has landed in hot water with the SEC. In 2005, when Dreamworks was a newly public company, Katzenberg had to cancel a secondary offering, was faced with class action lawsuits and was investigated by the SEC. Critics say it doesn’t seem reasonable that the company should have so many delays with writedowns, given that it only releases two films a year.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.