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Six Flags Shareholder Notice: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Six Flags Entertainment Corporation To Contact The Firm
New York, New York--(Newsfile Corp. - March 28, 2020) - Faruqi & Faruqi, LLP, a leading na...
About this update from Sixty Six Capital Inc
[{"type":"text","content":"Six Flags Shareholder Notice: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Six Flags Entertainment Corporation To Contact The FirmNew York, New York--(Newsfile Corp. - March 28, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Six Flags Entertainment Corporation (NYSE: SIX) (\"Six Flags\" or the \"Company\") of the April 13, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi logo If you invested in Six Flags stock or options between April 25, 2018 and January 9, 2020 and would like to discuss your legal rights, click here: http://www.faruqilaw.com/SIX. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. CONTACT:FARUQI & FARUQI, LLP685 Third Avenue, 26th FloorNew York, NY 10017Attn: Richard Gonnello, [email protected]: (877) 247-4292 or (212) 983-9330The lawsuit has been filed in the U.S. District Court for the Northern District of Texas on behalf of all those who purchased Six Flags common stock between April 25, 2018 and January 9, 2020 (the \"Class Period\"). The case, Electrical Workers Pension Fund, Local 103, I.B.E.W. v. Six Flags Entertainment Corporation et al., No. 20-cv-00346 was filed on February 12, 2020, and has been assigned to Judge Ed Kinkeade.The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Riverside, a Chinese real estate developer that would provide the capital investment for future developments in China, faced far more financial distress than disclosed to investors; (2) as a result, there was a high likelihood that Riverside would default on its payment obligations to the Company; (3) the Company's international strategy, which relied predominantly on its exclusive agreements with Riverside to develop Six Flags-branded parks in China to drive revenue growth, was significantly less promising than represented to investors; and (4) as a result of the foregoing, Defendants' statements about the Company's business, operations and prospects lacked a reasonabl...