https://www.law.com/texaslawyer/2023/05/12/six-flags-entertainment-stockholder-class-wants-florida-pension-fund-as-named-plaintiff/
Six Flags Fiesta Texas in San Antonio. Credit: Google EarthThe Six Flags defense was only raised once Oklahoma Firefighters sought to moot a potential class certification argument by amending the complaint. attorney Lewis T. LeClair said.
May 12, 2023 at 12:52 PM
5 minute read
What You Need to Know
- The lead plaintiff in a stockholder class action against Six Flags Entertainment is trying to add a new named plaintiff.
- Six Flags claims the lead plaintiff does not have standing to pursue the lawsuit and is making the motion to defend class certification.
- The lawsuit was revived after a U.S. Fifth Circuit opinion reversed and dismissal but parties differ on the meaning of the court’s findings.
Plaintiffs in a revived stockholder class action against Six Flags Entertainment Corp. are asking a federal district judge in Texas to allow a Florida-based pension fund to enter the class—a move the defense views as counter to its motion to dismiss.
The plaintiff response is the latest maneuver in a more than 4-year-long battle with Six Flags and its chief executives over allegations the company misrepresented its financial position in relation to three planned amusement parks in China that never got built.
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