Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit on Behalf of Investors in Dreamworks Animation SKG, Inc.

Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit on Behalf of Investors in Dreamworks Animation SKG, Inc.

NEW YORK, June 8 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Central District of California, on behalf of all persons who purchased the securities of Dreamworks Animation SKG, Inc. ("Dreamworks" or the "Company") [NYSE: DWA] between October 27, 2004 and May 10, 2005, inclusive, (the "Class Period") against defendants Dreamworks and certain officers and directors of the Company.

The case name is Dubensky v. Dreamworks Animation SKG, Inc., et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com/.

The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities.

The Complaint further alleges that statements made by defendants during the Class Period were materially false misleading when made because defendants failed to disclose the following: (1) that sales of Shrek 2 DVD's 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. The next day, shares of Dreamworks fell $4.45 per share, or more than 12 percent, to close at $32.05 per share on unusually heavy trading volume.

If you purchased Dreamworks securities during the Class Period, you may request that the Court appoint you as lead plaintiff by August 1, 2005. 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 Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gregory M. Nespole, Esq., Gustavo Bruckner, Esq., or Derek Behnke), via e-mail at classmember@whafh.com or visit our website at www.whafh.com. All e-mail correspondence should make reference to Dreamworks.

Source: Wolf Haldenstein Adler Freeman & Herz LLP

CONTACT: Fred Taylor Isquith, Esq., Gregory M. Nespole, Esq., Gustavo Bruckner, Esq., or Derek Behnke, 1-800-575-0735, classmember@whafh.com

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

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