NEW ORLEANS, Nov. 12, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 5, 2026 to file lead plaintiff applications in a securities class action lawsuit against Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. (NYSE: FUN), if they purchased or otherwise acquired the Company’s common stock pursuant or traceable to the company’s registration statement and prospectus issued in connection with the July 1, 2024 merger of legacy Six Flags Entertainment Corporation (“Legacy Six Flags”) with Cedar Fair, L.P. (“Cedar Fair”), and their subsidiaries and affiliates (the “Merger”). This action is pending in the United States District Court for the Northern District of Ohio.
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Six Flags investors should visit us at https://www.claimsfiler.com/cases/nyse-fun-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Six Flags and certain of its executives are charged with failing to disclose material information in the registration statement for the Merger, violating federal securities laws.
Specifically, the Registration statement failed to disclose that (i) despite the Company’s claims that it had pursued transformational investment initiatives in the years leading up to the Merger, Legacy Six Flags in fact suffered from chronic underinvestment and its parks required millions of dollars in additional capital and operational expenditures above the company’s historical cost trends in order to maintain or grow Legacy Six Flags’ share in the intensely competitive amusement park market; (ii) following defendant Selim Bassoul’s appointment as CEO in November 2021, the company implemented aggressive cost-cutting measures, including significant reductions in employee headcount, which materially degraded operational competence and guest experience; (iii) as a result, Legacy Six Flags required a substantial and undisclosed capital infusion to stabilize and revitalize its business, and these acute capital needs fundamentally undermined the rationale for the Merger as presented in the registration statement.
On the Merger closing date, July 1, 2024, Six Flags stock traded above $55 per share. The price of Six Flags stock subsequently fell as low as $20 per share, a nearly 64% decline.
The case is City of Livonia Employees’ Retirement System v. Six Flags Entertainment Corporation, No. 25-cv-02394.
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