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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Six Flags Entertainment Corporation (NYSE: SIX).
Six Flags and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 10, 2020, pre-market, the Company disclosed a range of negative information including difficulties and delays with the development of its parks in China and that its exclusive partner in the China projects, Chinese real estate developer, Riverside Investment Group Co. Ltd., had defaulted on its payment obligations to Six Flags. As a result, the Company would realize no revenue from its agreements with Riverside in the fourth quarter of 2019 and expected to make a negative $1 million revenue adjustment as well as one-time charges totaling approximately $10 million.
On this news, the price of Six Flags’ shares plummeted nearly 18% on high trading volume.
If you purchased shares of Six Flags and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Electrical Workers Pension Fund, Local 103, I.B.E.W. v. Six Flags Entertainment Corporation, 3:20-cv-00346.
Click here to read the first filed complaint.