Recent Securities Litigations
Six Flags Entertainment Corporation New Common Stock (NYSE: SIX)
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.”