NEW YORK, Feb. 13, 2020 — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Six Flags Entertainment Corporation (“Six Flags” or the “Company”) (NYSE: SIX) in the United States District Court for the Northern District of Texas on behalf of those who purchased or acquired the securities of Six Flags between April 25, 2018 and January 9, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Six Flags investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the delays of park develop in China with Riverside were not “short-term” and were material in the context of long-term opportunity; (2) Riverside was in severe financial distress and did not have the resources to timely complete its projects with Six Flags; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Spirit during the Class Period should contact the Firm prior to the April 13, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.