Six Flags Entertainment Corporation Securities Litigation
On or around 03/03/2020 (Date of last review)
Filing Date: February 12, 2020
According to the Complaint, Six Flags is the world’s largest regional theme park operator, with more than two dozen parks across North America. In addition to generating revenue through the operation of its parks in North America, Six Flags also earns revenue pursuant to international licensing agreements to assist third parties in the development and management of Six Flags-branded parks outside of North America.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and growth prospects related to its agreements with Riverside Investment Group Co. Ltd. to develop parks in China. As development of those parks began to face delays, the Complaint alleges that Defendants misled investors by downplaying the problems as "short-term" and "not material in the context of the long-term opportunity."
On March 2, 2020, the Court issued an Order consolidating cases and an Order transferring the case to the Northern District of Texas, Fort Worth Division.
Company & Securities Information
Defendant: Six Flags Entertainment Corporation
Industry: Recreational Activities
Headquarters: United States
Ticker Symbol: SIX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Electrical Workers Pension Fund Local 103 IBEW, et al. v. Six Flags Entertainment Corporation, et al.
COURT: N.D. Texas
DOCKET #: 20-CV-00346
JUDGE: Hon. Ed Kinkeade
DATE FILED: 02/12/2020
CLASS PERIOD START: 04/25/2018
CLASS PERIOD END: 01/09/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bernstein Litowitz Berger & Grossmann LLP (New New York)
McKool Smith PC
First Identified Complaint (FIC) Filings:
Complaint for Violations of the Federal Securities Laws
Order of Consolidation
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available