Six Flags Entertainment Corporation
Lead Plaintiff Deadline: 04/13/2020
SUMMARY OF CASE:
A securities class action has been filed against Six Flags Entertainment Corporation (SIX) on behalf of all persons or entities that purchased shares of Six Flags’ common stock between April 25, 2018 through January 9, 2020. This case has been filed in the USDC – N.D.TX.
The Complaint alleges Throughout the Class Period, Defendants made materially false and misleading statements, as well as failed to disclose material adverse facts, regarding the Company’s business ,operations, and growth prospects. Specifically, Defendants touted its business relationship with Riverside as an “incredible partnership” that “should supercharge revenue growth.” The Company also stated that Riverside would “work through” the macroeconomic issues that it faced in China and represented that delays in the development of its Six Flags-branded parks in China were “shortterm”and the resulting weakened revenue patterns were “not material in the context of the longterm opportunity.” These and similar statements during the Class Period were false and misleading because Defendants knew or recklessly disregarded that its licensing agreements with Riverside would not result in the benefits that Defendants had publicly represented. As a result of these misrepresentations, shares of Six Flags’ common stock traded at artificially inflated prices during the Class Period.