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INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Six Flags Entertainment Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

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The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Six Flags Entertainment Corporation (Six Flags or the Company) (NYSE: SIX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between April 25, 2018 and January 9, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before April 13, 2020.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Six Flags suffered from park development delays in China with partner Riverside. The delays were not short-term by any reasonable definition, in fact, the delays were both long-term and material in nature. Riverside was in a state of severe financial distress and did not have the resources necessary to complete its projects with the Company. Based on these facts, the Companys public statements were false and materially misleading throughout the class period. When the market learned the truth about Six Flags, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

The Schall Law Firm

Brian Schall, Esq.,

www.schallfirm.com

Office: 310-301-3335

Cell: 424-303-1964

[email protected]

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Yes on 21: Will Big Real Estate Spend $100 Million to Kill California’s Prop 21?

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Over the last several months, the real estate industry has shelled out nearly $84 million in campaign cash to kill Californias Proposition 21, the November ballot initiative that will limit unfair rent increases and preserve affordable housing. The big question now is: will corporate landlords such as Essex Property Trust, Equity Residential, and Blackstone Group spend $100 million to try to stop the statewide initiative?

Prop 21 puts limits on unfair, sky-high rent increases, reins in corporate landlord greed, and prevents homelessness. Top experts at USC, UCLA, and UC Berkeley agree that sensible rent limits are key for stabilizing Californias housing affordability crisis. The need for stable, affordable housing has taken on added urgency because of the COVID-19 pandemic people must have shelter to stay safe and healthy.

Its why U.S. Senator Bernie Sanders, Congresswoman Maxine Waters, the California Democratic Party, and Californias housing justice movement have thrown their full support behind Prop 21.

But corporate landlords such as Blackstone Group, Essex Property Trust, and Equity Residential are banding together to oppose Prop 21, shelling out tens of millions in campaign contributions. These real estate companies are desperate to maintain a rigged and broken housing market that allows them to charge wildly inflated rents, making billions off the backs of California renters.

In the 2010s, according to Zillow, U.S. renters paid a staggering $4.5 trillion to landlords. California landlords were especially raking in gigantic profits.

Zillow found that in 2019, Los Angeles renters paid $39.2 BILLION to landlords. San Francisco renters shelled out $16.4 billion. San Diego renters forked over $10.3 billion. Riverside renters wrote checks totaling $7.4 billion. San Jose renters paid $6.5 billion. Sacramento renters delivered $4.8 billion to landlords. Massive amounts paid by seniors living on fixed incomes, working-class families, recent college students, and teachers and nurses.

No matter. The real estate industry has formed four No on Prop 21 committees, with Californians for Responsible Housing sponsored by the California Apartment Association leading them all in fundraising, according to state filings. In only the past two weeks, the California Apartment Association-sponsored committee has grabbed an eye-popping $32.5 million in campaign cash to stop Prop 21. In total, Californians for Responsible Housing has raised a shocking $73,860,072.

With the other No on Prop 21 committees, Californians to Protect Affordable Housing has collected $9,245,691; Issues PAC of Apartment Association of Greater Los Angeles “ No on 21 has raised $600,735; and Californians for Affordable Housing sponsored by the California Rental Housing Association has raked in $192,951.

Thats a grand total of $83,911,495.

If Californians for Responsible Housing sponsored by the California Apartment Association keeps up its recent fundraising pace, the No on Prop 21 campaign will collect an astounding $100 million by Election Day.

Tellingly, 15 corporate landlords have delivered 72 percent of all contributions to Californians for Responsible Housing, shelling out $53,791,244. Essex Property Trust, one of the largest apartment owners in the nation, is the leading contributor.

Top Contributors to Californians for Responsible Housing sponsored by the California Apartment Association: ($1 million or more)

1. Essex Property Trust:

$15,013,300

2. Equity Residential:

$11,052,800

3. AvalonBay Communities:

$8,779,500

4. Prometheus Real Estate Group:

$3,134,600

5. UDR:

$2,525,042

6. Apartment Investment and Management Company:

$2,036,900

7. Sequoia Equities:

$1,821,260

8. George M. Marcus and Affiliated Entities:

$1,713,000

9. Invitation Homes:

$1,231,290

10. General Investment and Development (GID):

$1,146,000

11. R&V Management Corporation:

$1,100,000

12. Camden Development:

$1,082,000

13. Jackson Square Properties:

$1,061,600

14. Californians for Responsible Housing “ General Purpose Committee:

$1,012,219

15. Richard Tod Spieker, including Spieker Companies:

$1,009,733

Essex Property Trust, Equity Residential, AvalonBay Communities, UDR, Apartment Investment and Management Company, Invitation Homes, and Camden Development are publicly traded real estate investment trusts.

Equally telling is the hundreds of civic leaders, social justice groups, housing justice organizations, and labor unions who support Prop 21, including the Los Angeles and San Francisco tenant unions, SEIU California, California Nurses Association, California Alliance for Retired Americans, former United Nations special rapporteur on the Right to Housing Leilani Farha, and Black Lives Matter “ LA.

In the fight over Prop 21, the line of battle is clear: Wall Street landlords versus longtime fighters for justice and fairness. California voters will have to decide who they want to stand with. For many, the choice is a no-brainer: YES on Proposition 21.

Read the full article: Will Big Real Estate Spend $100 Million to Kill Californias Prop 21?

Housing Is A Human Right (HHR) is the housing advocacy division of AIDS Healthcare Foundation (AHF), and the leading sponsor of Proposition 21. Proposition 21 is sponsored by Homeowners & Tenants United, with significant funding by the AIDS Healthcare Foundation. To learn more, visit yeson21ca.org and housinghumanright.org.

Ged Kenslea, AHF Communications Dir., [email protected] (323) 791-5526 cell

 

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Citi & Plan International: Investments Enabling Girls to Complete Secondary Education Could Boost GDP in Emerging Economies by 10%

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Emerging economies that achieve 100% secondary school completion rates for girls by 2030 could see their GDP being boosted by an average of 10%, according to a new report by Citi Global Insights and Plan International.

The report, The Case for Holistic Investment in Girls – Improving Lives, Realizing Potential, Benefitting Everyone, reveals that a total investment of just $1.53 per day per girl in emerging economies would have a huge impact on countries overall economic potential.

More than 130 million girls worldwide were out of school before the COVID-19 crisis. According to UNESCO, over 11 million girls may not go back after the crisis.

Adolescent girls everywhere, but especially in developing economies, encounter barriers in accessing and completing quality education, becoming economically independent, participating in the labour force, and living a healthy life free from violence.

COVID-19 recovery plans that prioritise investment in girls education and well-being will help communities and economies build back better and stronger, said Anne-Birgitte Albrectsen, CEO of Plan International. But importantly, this must be comprehensive investment not just in education itself, but in dismantling all the various barriers to girls empowerment, from child and early forced marriage to gender-based violence and early pregnancy. As we can see from this study, holistic investment in all areas of girls lives will result in increased GDP, a high return on investment for countries and a more just world.

Even greater economic returns would materialise beyond 2030, thanks to the cumulative effects of the benefits, and taking into account the impact educating girls will also have on families and communities

The special value of the collaboration between Citi and Plan International comes through bringing together the economic and social case, and presenting a solid multi-component investment case, said Andrew Pitt, Global Head of Research Citi.

Eradicating barriers to girls education and development may hold the key to achieving many of the UN Sustainable Development Goals, he added.

This report brings together the diverse expertise of Citi Global Insights and Plan International and features three key components:

  • a deep dive into the complex barriers that adolescent girls face, and what interventions are required to overcome them;
  • an original economic analysis of the potential costs of an intervention package and the economic benefits that could be achieved through this; and
  • recommendations on how different sectors can come together to effectively tackle the barriers that are holding adolescent girls back.

A major challenge to research over the years has been a lack of high-quality and inclusive data. Citi and Plan International have partnered to address this crucial knowledge gap, creating one of the most holistic data sets yet on the economic and social benefits of investing in adolescent girls and young women.

The UN has encouraged the development of collaboration between the private sector, the public sector, NGOs and philanthropic institutions in pursuit of the SDGs. This research confirms the benefits of such positive inter-disciplinary collaborations.

The report concludes that investing in the development of adolescent girls will have positive implications across the global goals beyond SDG 5 “ gender equality “ and is in fact key to achieving sustainable development overall. The importance of girls education and empowerment has been linked to several SDGs including reducing conflict, achieving clean water and sanitation as well as tackling climate change.

NOTES TO EDITORS

Return on investment:

  • The study looked at the total cost of interventions compared to the economic returns that can be generated, and deduced a 2.8x return on investment. This figure specifically relates up to and including the year 2030. If the results were extended beyond 2030, it can be estimated that any return on investment would increase over time.
  • The study compared investing in girls as a return on investment with alternate investments, including infrastructure. It was deduced that the infrastructure return on investment in these countries would be 2x, which as a benchmark is a rate considered worthy of investment.

Key Statistics Relating to Girls

  • 132 million girls worldwide are out of school, which includes almost 100 million girls of secondary school age (UNESCO).
  • More than 85% of girls in low-income countries do not complete secondary school (UNESCO).
  • 15 million girls of primary school age (half of them in Sub Saharan Africa) will never enter a classroom (UNESCO).
  • Intimate Partner Violence affects an estimated 29% of girls aged 15-19 worldwide (WHO).
  • Globally, 1 in 5 women were married before their 18th birthday (UN Childrens Fund).
  • Almost 1 billion (64%) girls and young women under 24 are currently lacking key skills that they need for life and work. In lower-middle income countries, this translates into 75%, and rises to 93% for low-income countries (Malala Fund).
  • 90% of countries have at least one law that restricts economic equality for girls and women (World Bank).

About Citi GPS

Citi is one of the worlds largest financial institutions, operating in all major established and emerging markets. Across world markets, our employees conduct an ongoing multi-disciplinary global conversation accessing information, analysing data, developing insights, and formulating advice for our clients.

As our premier thought leadership product, Citi Global Perspectives & Solutions (Citi GPS) is designed to help our clients navigate the global economys most demanding challenges, identify future themes and trends, and prosper in a fast-changing and interconnected world.

Citi GPS accesses the best elements of our global conversation and harvests the thought leadership of a wide range of senior professionals both across the firm and across various academic institutions. For more about Citi GPS go to https://www.citivelocity.com/citigps/.

About Plan International

Plan International is an independent development and humanitarian organisation that advances childrens rights and equality for girls.

We believe in the power and potential of every child. But this is often suppressed by poverty, violence, exclusion and discrimination. And its girls who are most affected. Working together with children, young people, our supporters and partners, we strive for a just world, tackling the root causes of the challenges facing girls and all vulnerable children.

We support childrens rights from birth until they reach adulthood. And we enable children to prepare for “ and respond to “ crises and adversity. We drive changes in practice and policy at local, national and global levels using our reach, experience and knowledge.

We have been building powerful partnerships for children for over 80 years and are now active in more than 75 countries.

Francesco Meucci

VP Public Affairs, Citi Research

[email protected]

+44 2075080717

Miranda Atty

Global Press Officer, Plan International

[email protected]

+44 7989065738

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Colony Credit Real Estate, Inc. of Class Action Lawsuit and Upcoming Deadline – CLNC

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NEW YORK, Oct. 26, 2020 — Pomerantz LLP announces that a class action lawsuit has been filed against Colony Credit Real Estate, Inc.  (“Colony Credit” or the “Company”) (NYSE: CLNC) and certain of its officers.   The class action, filed in United States District Court for the Central District of California, and docketed under 20-cv-08305, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired the common stock of Colony Credit pursuant and/or traceable to the Company’s false and/or misleading Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the combination of Colony NorthStar, Inc. (“Colony NorthStar”) and NorthStar Real Estate Income Trust, Inc. (“NorthStar I”) and NorthStar Real Estate Income II, Inc. (“NorthStar II”) on or about February 1, 2018 (the “Merger”), seeking to pursue remedies under Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”).

If you are a shareholder who purchased Colony Credit securities during the class period, you have until November 9, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Colony Credit is a commercial real estate (“CRE”) credit real estate investment trust (“REIT”) that purports to manage a diversified portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties predominantly in the U.S.

The Company’s common stock was registered with the SEC in connection with the Merger.  Following the Merger, Colony Credit’s common stock was listed on the New York Stock Exchange (“NYSE”) without an initial public offering: stockholders of NorthStar I received 0.3532 shares of the Company’s Class A common stock for each share of NorthStar I common stock they owned; and stockholders of NorthStar II received 0.3511 shares of the Company’s Class A common stock for each share of NorthStar II common stock they owned.

The Registration Statement was materially false and misleading and omitted to state: (i) that the credit quality of certain of the Company’s assets had deteriorated prior to the Merger and were continuing to deteriorate at the time of the Merger; (ii) that certain of the Company’s loans, including four loans of approximately $261 million related to a New York hotel, were substantially impaired, there was insufficient collateral to secure the loans, and it was unlikely that the loans would be repaid; (iii) that, as a result, the valuation attributed to certain of the Company’s assets was overstated; (iv) that certain of the assets contributed as part of the Merger were of substantially lower value than reflected in the Company’s financial statements and the Registration Statement; (v) that, as a result, the Company’s financial condition, including its book value, was materially overstated; and (vi) that, as a result of the foregoing, the positive statements in the Registration Statement about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 8, 2019, Colony Credit issued a press release to report its second-quarter 2019 financial results, in which it reported a $119 million provision for loan losses.

On this news, the Company’s share price fell $2.00 per share, or more than 12%, over two consecutive trading sessions to close at $14.05 per share on August 12, 2019.

On November 8, 2019, the Company announced a portfolio bifurcation of certain assets and disclosed a $127 million provision for loan losses.

On this news, the Company’s share price fell $2.50 per share, or nearly 18%, to close at $11.75 per share on November 8, 2019.

As of the date of the filing of this complaint, Colony Credit’s shares last closed at $5.40 per share, representing a more than 78% decline from the $25 book value per share valued at the time of the Merger.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz LLP [email protected] 888-476-6529 ext. 7980

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