Prnewswire·2025-12-19 00:00Core Viewpoint - The article discusses a class action lawsuit against Six Flags Entertainment Corporation, alleging that the company and its executives misled investors regarding the financial health and operational needs of the company prior to its merger with Cedar Fair, L.P. [1][3] Group 1: Lawsuit Details - The class action lawsuit is titled "City of Livonia Employees' Retirement System v. Six Flags Entertainment Corporation" and was 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 failed to disclose significant underinvestment in Legacy Six Flags, which required millions in additional capital to maintain operations [3]. Group 2: Financial Impact - On the merger closing date, July 1, 2024, Six Flags stock was trading above $55 per share, but subsequently fell to as low as $20 per share, representing a decline of nearly 64% [4]. - The lawsuit alleges that the company's operational competence and guest experience were degraded due to cost-cutting measures implemented by CEO Selim Bassoul, which further exacerbated the company's financial issues [3]. 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 [4][5]. - Robbins Geller has secured over $2.5 billion for investors in securities-related class action cases in 2024 alone, highlighting its significant role in investor protection [5].