5th Circuit Panel Revives Pension Fund’s Claims In Six Flags Stock-Drop Suit

Mealey's (January 23, 2023, 2:21 PM EST) -- NEW ORLEANS — A federal district court erred in dismissing a pension fund’s federal securities law claims in a class action against Six Flags Entertainment Corp. and two of its former senior executives stemming from the defendants’ alleged misrepresentations regarding the company’s theme park expansion in China because the pension fund sufficiently pleaded an actionable misstatement and scienter, a Fifth Circuit U.S. Court of Appeals panel ruled in reversing and remanding....