What Is the Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. (FUN) Class Action Lawsuit About?
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. (“Six Flags” or “the Company”) (NYSE: FUN) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that held shares of Six Flags as of July 1, 2024 (the “Merger Date”) and were entitled to vote on the merger of Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. and and thus were damaged by defendants’ violations of Section 14(a) of the Exchange Act. Such investors are encouraged to join this case.
What Does the Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. Securities Class Action Allege?
The Complaint alleges that the Registration Statement for the Merger was negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made therein not misleading, and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the Registration statement failed to disclose that: (1) Despite executives’ claims that Legacy Six Flags had pursued transformational investment initiatives prior to the Merger, the company in fact suffered from chronic underinvestment, and its amusement parks required millions of dollars in additional capital and operational expenditures beyond historical cost trends to maintain—let alone grow—market share in a highly competitive industry; (2) 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; (3) 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.
What’s Next?
A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 917-590-0911. If you suffered a loss in Six Flags you have until January 5, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
How Is Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. (NYSE: FUN) Stock Trading Today?
Interactive chart showing the weekly share price history of FUN (FUN).
How Is BG&G Representing Investors in Securities Class Actions?
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”