Six Flags facing federal lawsuit as pension fund accuses company of hiding years of neglect

Описание: A new federal lawsuit accuses Six Flags leaders of concealing widespread neglect across their amusement parks ahead of last year's multibillion-dollar merger with Cedar Fair, the parent company to Cedar Point.

The complaint — filed by the City of Livonia Employees' Retirement System in Michigan — alleges Six Flags cut staff, deferred maintenance, and skipped critical repairs while publicly promising investors "premium" park upgrades.

The pension fund says it bought stock issued through the 2024 Six Flags-Cedar Fair merger and later lost money when the truth surfaced. Court documents claim that after the merger closed in July 2024, operating costs soared by about $427 million in the first full quarter of combined operations. Executives said the extra spending was needed to make the legacy Six Flags parks safe, functional and competitive again.

Since then, the company's stock has fallen roughly 64% — losses the lawsuit estimates have cost new investors hundreds of millions of dollars.

Read: https://www.wkyc.com/article/news/inv... --

At 3News, we’re not here to tell you the news, we’re here to share the stories that you say matter most to you. Share your ideas, thoughts, concerns and engage in conversations about the communities in which we all call home.

Follow 3News on Social:

Facebook:   / wkyc.channel3  
Twitter:   / wkyc  
Instagram:   / wkyc3  

Visit our site: https://www.wkyc.com/
And be sure to download our app here: https://wkyc.com/app