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April 7, 2020, 8:17 p.m. EDT

Shareholder Alert: Robbins LLP Announces it Is Investigating Six Flags Entertainment Corporation (SIX) for Misleading Shareholders

Shareholder rights law firm Robbins LLP announces that it is investigating Six Flags Entertainment Corporation /zigman2/quotes/208050417/composite SIX -4.73% for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. Six Flags owns and operates regional theme and water parks.

If you suffered a loss as a result of Six Flag's misconduct, click here .

Six Flags Entertainment Corp. (SIX) Announces Disappointing Financial Results

In June 2014, Six Flags announced the signing of its agreement to build multiple Six Flags-branded theme parks in China with Riverside Investment Group Co. Ltd. ("Riverside"), touting the partnership as an opportunity to "supercharge revenue growth." However, on February 14, 2019, Six Flags shocked investors with its negative revenue adjustment of $15 million, citing delays in expected opening dates. Then, on January 10, 2020, Six Flags revealed it continued to encounter macroeconomic challenges, resulting in no realized revenue for fourth quarter 2019. Finally, on February 20, 2020, the Company announced a net loss for Q4 2019, citing "charges of approximately $10 million related to the Company's China development agreements and certain unrelated litigation matters." On this news, the stock fell to $31.89 per share, representing a 52% decline from its class period high of $66.69 per share.

Six Flags Entertainment Corp. (SIX) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200407005858/en/

SOURCE: Robbins LLP

Leo Kandinov
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
lkandinov@robbinsllp.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com

Copyright Business Wire 2020

/zigman2/quotes/208050417/composite
US : U.S.: NYSE
$ 22.98
-1.14 -4.73%
Volume: 4.42M
May 29, 2020 4:00p
P/E Ratio
11.96
Dividend Yield
0.00%
Market Cap
$1.95 billion
Rev. per Employee
$609,878
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