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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, notwithstanding its executives’ claims that the Company had pursued transformational investment initiatives in the years leading up to the Merger, Legacy Six Flags in fact suffered from chronic underinvestment and its parks required millions of dollars in additional capital and operational expenditures above the Company’s historical cost trends in order to maintain (let alone grow) Legacy Six Flags’ share in the intensely competitive amusement park market. Prior to the Merger, Legacy Six Flags had for years deferred or foregone basic park maintenance, operational improvements, infrastructure repairs, and ride design and development updates. Additionally, after taking over as CEO in November 2021, Bassoul slashed employee headcount in an effort to cut costs, but in so doing had degraded the Company’s operational competence and guest experience. In short, at the time of the Merger Legacy Six Flags required a massive, undisclosed capital infusion to turn the Company around, and these acute capital needs undermined the entire rationale for the deal as portrayed in the Registration Statement.

Six Flags Entertainment Corporation Common Stock New (NYSE: FUN) Claim Form