The Associated Press reports that shares of Pixar Animation Studios took 2.5% hit Friday following news that the Securities and Exchange Commission is looking into the company. Though a reason for the probe hasn’t been made public, it is suspected that questions came up when Pixar missed its second quarter results due to lower than-expected sales of The Incredibles on DVD.
In early August, Pixar reported a steep 66% dip in quarterly earnings. Revenues checked in at $26.4 million, compared to a first-quarter gross of $161.2, and earnings were down to $12.7 million from $81.9 million reported in May.
According to a statement issued by Pixar, the company received a fairly common, informal request for information from the SEC and has fully complied. Investors have been fairly quiet about the matter, whereas DreamWorks shareholders have filed class-action lawsuits against the studio for over-projecting Shrek 2 DVD sales.