DreamWorks Animation SKG Inc., the studio behind "Shrek" and "Shark Tale," announced on Monday that the Securities and Exchange Commission has launched a probe into trading of its stock and the release of its first quarter results in May.
The company also canceled a planned $500 million secondary offering of stock. Jeffrey Katzenberg, chief executive of DreamWorks Animation, said in a statement that the reason behind withdrawing the stock offering was because of the low valuation of the company's shares. The company's chief financial officer, Kris Leslie, pointed to disappointing home video sales as being the reason behind its second quarter loss.
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