Prnewswire·2025-12-03 17:00Core Viewpoint - The article discusses 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 significant financial issues prior to a merger with Cedar Fair, L.P. [1] Group 1: Lawsuit Details - The class action lawsuit is titled "City of Livonia Employees' Retirement System v. Six Flags Entertainment Corporation" and is filed in the Northern District of Ohio [1] - Purchasers of Six Flags common stock related to the merger have until January 5, 2026, to seek appointment as lead plaintiff [1] - The lawsuit claims that the registration statement for the merger did not reveal that Legacy Six Flags had chronic underinvestment and required millions in additional capital to maintain its market position [1] Group 2: Financial Impact - 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 decline of nearly 64% [1] - The lawsuit alleges that the company's operational competence and guest experience were degraded due to cost-cutting measures implemented by CEO Selim Bassoul after he took over in November 2021 [1] Group 3: Legal Representation - The plaintiffs are represented by Robbins Geller Rudman & Dowd LLP, a law firm known for its experience in prosecuting investor class actions and securities fraud cases [1] - Robbins Geller has secured over $2.5 billion for investors in securities-related class action cases in 2024, highlighting its significant role in investor protection [1]