Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Six Flags Amid Investor Losses

Robbins Geller Rudman & Dowd LLP Files Class Action Against Six Flags

On November 11, 2025, the law firm Robbins Geller Rudman & Dowd LLP announced the initiation of a class action lawsuit against Six Flags Entertainment Corporation, formerly known as CopperSteel HoldCo, Inc. The firm is inviting those who purchased or acquired common stock from Six Flags, particularly in connection with the significant merger between Legacy Six Flags and Cedar Fair, to join the lawsuit as lead plaintiffs. The merger, which culminated on July 1, 2024, has led to substantial financial losses for investors. The lawsuit officially titled City of Livonia Employees' Retirement System v. Six Flags Entertainment Corporation has been filed in the Northern District of Ohio, case number 25-cv-02394.

Background of the Case

Investors finding themselves on the wrong end of the stock market's downturn are encouraged to come forward by January 5, 2026, to assert their rights. This class action lawsuit highlights significant allegations against Six Flags, as it charges the company and specific high-ranking executives with violations of the Securities Act of 1933. At the heart of the accusations is the assertion that the registration statement issued prior to the merger concealed critical information about the company's financial health.

Robbins Geller's claims suggest that despite sweeping statements from Six Flags executives regarding their supposed transformative investments leading up to the merger, in reality, the company had suffered from chronic underinvestment. It has been asserted that Legacy Six Flags required millions in capital expenditures beyond what historical trends indicated, just to maintain its position in an intensely competitive amusement park market.

The lawsuit further alleges that after Selim Bassoul took over as CEO in November 2021, he implemented drastic headcount reductions aiming to streamline costs, which inadvertently compromised the operational capabilities and the overall guest experience. The situation was exacerbated as it became evident that Legacy Six Flags was in dire need of substantial capital injection at the time of the merger, undermining the rationale for the merger as portrayed in its registration statement.

Financial Losses and Market Reaction

At the time of the merger's official date on July 1, 2024, the stock price of Six Flags was above $55 per share. However, a dramatic decline ensued as the stock plummeted to approximately $20 per share, marking a staggering drop of nearly 64%. Such a decline has understandably frustrated many investors, prompting Robbins Geller to take action on their behalf.

Robbins Geller’s Reputation and Expertise

Robbins Geller Rudman & Dowd LLP is internationally recognized for representing investors in securities fraud and shareholder litigation. Their stature in the legal community is formidable, with notable achievements, including recovering over $2.5 billion for investors in cases related to securities fraud in 2024 alone. This makes them one of the leading firms in this area of law.

Their extensive experience in handling investor class actions empowers them to navigate the complexities of cases like that of Six Flags effectively. By choosing to operate through class actions, they can maximize the impact of investor claims against companies that mislead shareholders. Investors wishing to become involved are encouraged to visit their dedicated class action information page.

Conclusion

As this case unfolds, it remains a critical juncture for both Robbins Geller and the affected investors who are seeking justice for their losses. Interested parties are encouraged to act quickly, especially before the cutoff date for lead plaintiff applications. The actions taken now may influence the final outcome in a case that promises to examine the legal and ethical responsibilities of corporate governance in public companies like Six Flags.