April 9, 2020, 6:10 p.m. EDT

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Six Flags Entertainment (SIX) Investors Who Suffered 500K+ Losses to Contact Firm, Application Deadline Monday

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SAN FRANCISCO, April 09, Apr 09, 2020 (GLOBE NEWSWIRE via COMTEX) -- Hagens Berman urges Six Flags Entertainment Corporation /zigman2/quotes/208050417/composite SIX +1.95% investors who have suffered losses in excess of $500,000 to submit their loss now to learn if they qualify to recover their investment losses. Only four days remain until the April 13, 2020 lead plaintiff deadline in a securities fraud class action that has been filed against the company.

Class Period: Apr. 25, 2018 - Jan. 9, 2020

Lead Plaintiff Deadline: Apr. 13, 2020

Sign Up: www.hbsslaw.com/investor-fraud/SIX

Contact an Attorney Now: SIX@hbsslaw.com | 844-916-0895

Six Flags Entertainment Corporation (SIX) Securities Class Action:

According to the Complaint, Defendants made false and misleading statements about Six Flags' business, operations, and growth prospects related to agreements with its partner (Riverside) to develop parks in China.

More specifically, according to the Complaint, as development of those parks began to face delays, Defendants falsely (1) downplayed the problems as "short-term" and "not material in the context of the long-term opportunity" and (2) assured that Riverside was "work[ing] through" the macroeconomic issues in China and that Riverside was in "great shape" financially.

The Complaint alleges that investors learned the truth about development delays and Riverside's financial health through a series of partial disclosures beginning on Feb. 14, 2019, when Defendants announced a negative $15 million revenue adjustment for Q4 2018 due to delays in opening dates of some of its China parks, which the Company falsely blamed on macroeconomic issues in China. The Complaint alleges that the fraud was fully disclosed on Jan. 10, 2020, when Defendants disclosed further delays in development of Six Flags-branded parks in China and Riverside's default on its payment obligations to Six Flags.

Each disclosure drove the price of Six Flags shares sharply lower.

"We're focused on recovering investors' losses and proving Six Flags intentionally misled investors about the progress of its parks in China," said Reed Kathrein, the Hagens Berman partner leading the investigation.

Whistleblowers: Persons with non-public information regarding Six Flags should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SIX@hbsslaw.com.

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 844-916-0895

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/zigman2/quotes/208050417/composite
US : U.S.: NYSE
$ 23.54
+0.45 +1.95%
Volume: 2.19M
May 22, 2020 4:00p
P/E Ratio
12.25
Dividend Yield
0.00%
Market Cap
$1.99 billion
Rev. per Employee
$609,878
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