Six Flags Board Sheds Derivative Suit Over Expansion to China

Board members and officers of Six Flags Entertainment Corp. won dismissal of claims that the board wrongfully refused to pursue a derivative action against former officers and directors over allegedly misleading statements about the progress of theme park projects in China.

The plaintiff, shareholder Antonio Dela Cruz, failed to show that the board acted in bad faith or that its investigation was unreasonable, Judge Mark T. Pittman of the US District Court for the Northern District of Texas said.

The complaint alleged that the individual defendants made “materially false and misleading statements and omissions concerning the development of several ...