Fort Worth Judge Dismisses Shareholder Derivative Suit Against Six Flags Board

For the second time this spring, a Fort Worth federal judge has dismissed with prejudice a lawsuit that stemmed from a business deal that fell apart between Arlington-based Six Flags Entertainment Corp. and Riverside Investment Group related to the development of Six Flags parks in China.

In a 16-page ruling issued Wednesday, U.S. District Judge Mark Pittman ruled that a group of shareholders did not present enough evidence in a shareholder derivative action that sought to hold several Six Flags board of directors members liable for the fallout. The plaintiffs had claimed that the board members breached their fiduciary duties after company leaders made alleged misstatements or omissions of fact related to the development of the Six Flags parks and the financial health of Riverside, which defaulted on its payments.