CLEVELAND, Ohio — A federal class action lawsuit accuses Six Flags and its top executives of misleading investors about the deteriorating state of its amusement parks ahead of its merger last year with Cedar Fair.

The July 2024 merger brought Cedar Point under the Six Flags umbrella and made Six Flags North America’s largest regional amusement park operator.

The lawsuit was filed last week in federal court on behalf of a municipal pension fund for Livonia, Michigan.

It says that shortly after the merger became official, Six Flags reported a sharp rise in operating costs and disappointing earnings. Attorneys for the fund argued that was due to long-neglected maintenance and underinvestment at legacy parks.

Legacy Six Flags shareholders voted to approve the merger in March 2024, months a

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