Shareholder Class Action Filed Against DreamWorks Animation SKG, Inc. By The Law Firm of Schiffrin & Barroway, LLP

Shareholder Class Action Filed Against DreamWorks Animation SKG, Inc. By The Law Firm of Schiffrin & Barroway, LLP

RADNOR, Pa., June 6 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Central District of California on behalf of purchasers of the publicly traded securities of DreamWorks Animation SKG, Inc. (NYSE:DWA) ("DreamWorks" or the "Company") between October 27, 2004, and May 10, 2005, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Darren J. Check, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.

The complaint charges DreamWorks and certain of its officers and directors with violations of the Securities Exchange Act of 1934. DreamWorks develops and produces high-quality computer generated ("CG") animated films. According to the complaint, defendants failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that sales of "Shrek 2" DVDs were precipitously declining; (2) that retailers were returning massive amounts of unsold "Shrek 2" DVD inventory at an alarming rate; (3) that the Company was flooding the market with products that were far in excess of the actual demand; and (4) as a result of the foregoing, defendants' opinions and statements concerning the Company's current and future earnings were lacking in any reasonable basis when made.

On May 10, 2005, defendants, after the market closed, announced that "Shrek 2" did not meet the Company's retail sales expectations for the first quarter. On May 11, 2005, shares of DreamWorks fell $4.45 per share, or 12.19 percent, to close at $32.05 per share on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform and has recovered billions of dollars on behalf of both individual investors and institutional investors from the United States and around the world. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com/.

If you are a member of the class described above, you may, not later than August 1, 2005, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action.

CONTACT: Schiffrin & Barroway, LLP Marc A. Topaz, Esq. Darren J. Check, Esq. 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll-free) or 1-610-667-7706 Or by e-mail at info@sbclasslaw.com

Source: Schiffrin & Barroway, LLP

CONTACT: Schiffrin & Barroway, LLP: Marc A. Topaz, Esq. or Darren J. Check, Esq., +1-888-299-7706, +1-610-667-7706 or info@sbclasslaw.com

Web site: http://www.sbclasslaw.com/

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