Overview

• Los Angeles-based Schall Law Firm said it is investigating whether Six Flags issued false or misleading statements or failed to disclose losses to investors.
• If the matter proceeds, it could force the company to open its books and release internal financial documents.
• Earlier this month, Six Flags reported a $100 million second-quarter revenue shortfall alongside a 9% decline in attendance and an 8% drop in season-pass purchases.
• CEO Richard Zimmerman said he will step down once a successor is appointed, and the company’s shares are down about 47% year to date.
• Six Flags has closed a park in Maryland, and following its combination with Cedar Fair there is market speculation about further closures or asset sales, while a spokesperson said attendance began to normalize in July.