According to the Complaint, Six Flags Entertainment Corporation 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. All future docketing was ordered to be done in the lead case 20-CV-00201.

Plaintiff filed an amended Complaint on March 20, 2020. The Court issued an Order appointing Lead Plaintiff and Counsel on May 8. Lead Plaintiff filed an amended Complaint on July 2. Defendants filed a Motion to Dismiss the amended Complaint on August 3. On March 3, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on August 25.

On January 18, 2023, the Court of Appeals reversed the ruling on the District Court and remanded the case for further proceedings.

Defendants filed a Motion for Judgment on the Pleadings on May 2, 2023. On June 2, the Court issued an Order granting Defendants' Motion for Judgment. The case was dismissed with prejudice. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on June 30.