Cedar Fair(US:FUN) Businesswire·2025-11-06 01:55Core Viewpoint - Robbins Geller Rudman & Dowd LLP has filed a class action lawsuit against Six Flags Entertainment Corporation, alleging that the company and its executives violated the Securities Act of 1933 by failing to disclose critical financial information related to a merger with Cedar Fair, L.P. [1][3] Summary by Sections Class Action Lawsuit Details - The lawsuit is titled "City of Livonia Employees' Retirement System v. Six Flags Entertainment Corporation" and was filed in the Northern District of Ohio [1]. - Investors who purchased Six Flags stock in connection with the merger have until January 5, 2026, to seek appointment as lead plaintiff [1]. Allegations Against Six Flags - The registration statement for the merger allegedly did not disclose that Legacy Six Flags had chronic underinvestment and required millions in additional capital to maintain its market position [3]. - After becoming CEO in November 2021, Selim Bassoul reduced employee headcount to cut costs, which negatively impacted operational competence and guest experience [3]. - The lawsuit claims that the need for significant undisclosed capital undermined the rationale for the merger as presented in the registration statement [3]. Stock Performance - On the merger closing date, July 1, 2024, Six Flags stock was trading above $55 per share, but it subsequently fell to as low as $20 per share, representing a nearly 64% decline [4].