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Glancy Prongay & Murray LLP, a Leading National Securities Fraud Law Firm, Announces Investigation of Six Flags Entertainment Corporation (SIX) on Behalf of InvestorsGlancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Six Flags Entertainment Corporation ("Six Flags" or the "Company") (NYSE: SIX) investors concerning the Company and its officers' possible violations of the federal securities laws. If you suffered a loss on your Six Flags investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email [email protected] or visit our website at www.glancylaw.com to learn more about your rights. On February 14, 2019, Six Flags disclosed a $15 million revenue adjustment for fourth quarter 2018 due to delays in expected opening dates of some parks in China. In the press release, the Company stated that "[t]his resulted in a 38 percent decline in sponsorship, internatonal agreements and accommodations revenue compared to the fourth quarter of 2017." On this news, the Company's share price fell $9.00, or over 14%, to close at $54.87 per share on February 14, 2019, on unusually heavy trading volume. Then, on October 23, 2019, Six Flags postponed park openings in China and stated that "it's unrealistic to think it's going to be exactly as we've outlined." On this news, the Company's share price fell $6.35, or over 12%, to close at $44.88 per share on October 23, 2019, on unusually heavy trading volume. Then, on January 10, 2020, Six Flags announced that parks in China continued to encounter challenges and that the Company expected a $1 million revenue adjustment related to certain agreements. On this news, the Company's share price fell $7.80, or nearly 18%, to close at $35.96 per share on January 10, 2020, on unusually heavy trading volume. Follow us for updates on LinkedIn, Twitter, or Facebook. Whistleblower Notice: Persons with non-public information regarding Six Flags should consider their options to aid the investigation or take advantage of the SEC (News - Alert) Whistleblower Program. Under the 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 Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]. About GPM Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times (News - Alert), Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20200213005948/en/ |
