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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Six Flags Entertainment Corporation (NYSE: SIX) who purchased shares between April 25, 2018 and February 19, 2020. The action, which was filed in the United States District Court for the Northern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Six Flags Entertainment Corporation lawsuit alleges that (1) Riverside Investment Group Co. Ltd. (“Riverside”), the Chinese real estate developer with which Six Flags partnered, faced far more financial distress than disclosed to investors; (2) as a result, there was a high likelihood that Riverside would default on its payment obligations to the Company; (3) the Company’s international strategy, which relied predominantly on its exclusive agreements with Riverside to develop Six Flags-branded parks in China to drive revenue growth, was significantly less promising than represented to investors; and (4) as a result of the foregoing, Defendants’ statements about the Company’s business, operations and prospects lacked a reasonable basis.
Shareholders have until April 13, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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