LEGAL PROCEEDINGS
−Removed: The Combined Company is a party to a number of lawsuits arising in the normal course of business.
+Added: The Company is a party to a number of lawsuits arising in the normal course of business.
In the opinion of management, none of these matters are expected to have a material effect in the aggregate on the consolidated financial statements with the exception of the lawsuits described herein.
5 unchanged sentences
On June 19, 2025, Canada’s Wonderland filed a response denying the allegations in the Commissioner’s application.
−Removed: Canada’s Wonderland and the Commissioner will participate in a mediation relating to the claims alleged in the application in March 2026, and the Evidentiary Hearing is scheduled for September 2026, with Oral Argument scheduled for October 2026.
+Added: In March 2026, Canada’s Wonderland and the Commissioner participated in a mediation relating to the claims alleged in the application, and did not reach a settlement or resolution at the mediation.
+Added: The Evidentiary Hearing is scheduled for September 2026, with Oral Argument scheduled for October 2026.
City of Livonia Employees' Retirement System v.
4 unchanged sentences
3:25-cv-02394 (N.D.
+Added: Ohio) (the "Securities Action").
The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933, and alleges, among other things, that the Company’s registration statement and prospectus issued in connection with the July 1, 2024 merger of Former Six Flags and Cedar Fair, L.P.
−Removed: contained untrue statements of fact and/or was materially misleading because it failed to disclose that Former Six Flags had underinvested in its parks and operations and that, as a result, the financial plans in the registration statement were not
−Removed: reasonably achievable or rooted in facts existing at the time of the July 1, 2024 merger.
+Added: contained untrue statements of fact and/or was materially misleading because it failed to disclose that Former Six Flags had underinvested in its parks and operations and that, as a result, the financial plans in the registration statement were not reasonably achievable or rooted in facts existing at the time of the July 1, 2024 merger.
The defendants have not yet responded to the complaint, but intend to defend the action vigorously.
+Added: Matthew Whitfield v.
+Added: Selim Bassoul, et al.
+Added: On November 25, 2025, a shareholder derivative complaint was filed against certain current and former officers and directors of the Company in the U.S.
+Added: District Court for the Northern District of Ohio, captioned Matthew Whitfield v.
+Added: Selim Bassoul., et al., No.
+Added: 3:25-cv-02599 (N.D.
+Added: The complaint is generally based on the same allegations as in the Securities Action and asserts claims for, among other things, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, unjust enrichment, abuse of control, waste of corporate assets, and alleged violations of Section 14(a) of the Securities Exchange Act of 1934.
+Added: On February 25, 2026, the parties agreed, subject to court approval, to stay the action during the pendency of any motion to dismiss filed by defendants in the Securities Action.
+Added: and Judy Martinez v.
+Added: Six Flags Entertainment Corporation, et al.
+Added: A putative class action complaint alleging claims under Title III of the Americans with Disabilities Act ("ADA") and two California statutes was filed December 26, 2023 against Former Six Flags Entertainment Corporation and Magic Mountain LLC in the U.S.
+Added: District Court for the Eastern District of California.
+Added: Subsequent to filing, two additional named plaintiffs replaced the original plaintiff, and defendants Park Management Corp.
+Added: and Six Flags Concord LLC were added as parties.
+Added: Plaintiffs allege that in violation of the ADA and the California statutes, defendants require a guest with a disability to register with and obtain from the International Board of Credentialing and Continuing Education Standards ("IBCCES") an Individual Accessibility Card ("IAC") at least 48 hours in advance of their park visit in order to receive an "Attraction Access Pass" at the park, which identifies accommodations for the guest.
+Added: Plaintiffs further allege that in violation of the ADA and the California statutes, a disabled guest must submit on the IBCCES website medical documentation as a result of impermissible inquiries as part of their IAC application.
+Added: Defendants have denied plaintiffs’ allegations.
+Added: Plaintiffs moved to certify two nationwide classes for claims under the ADA seeking injunctive relief and attorneys' fees, and two corresponding California subclasses for claims under the California statutes seeking injunctive relief, damages and attorneys' fees.
+Added: After hearing class-certification arguments in November 2025, the magistrate judge recommended to the district judge in February 2026 that one of the nationwide classes seeking injunctive relief and attorneys’ fees under the ADA be certified and that certification of any other class or subclass be denied.
+Added: Prior to the district
+Added: judge's consideration of the recommendations, mediation was held April 20, 2026, at which the parties reached an agreement in principle to resolve all claims.
+Added: The settlement is subject to the execution of definitive documentation and court approval.
+Added: The Company does not believe the settlement amount is material.
+Added: Six Flags America LP, et al.
+Added: A putative class action complaint, which also includes a claim for individual relief, was filed May 7, 2025 against Six Flags America LP and IBCCES in the Circuit Court for Prince George’s County, Maryland.
+Added: Plaintiff alleges that in violation of Prince George’s County Code and the common law of negligence and unjust enrichment, disabled persons seeking reasonable accommodations at the Six Flags America park in Bowie, Maryland must first undergo a pre-approval process managed by IBCCES 48 hours in advance of a park visit to obtain an IAC, and as part of the process applicants must submit sensitive personal and medical information.
+Added: Plaintiff further alleges that in June 2024, she entered the park with her service dog without incident but was informed that without an IAC, she could either leave the park, put her service dog in her car and return, or get a rain check for a return visit, after which plaintiff chose to leave.
+Added: Plaintiff seeks to certify several classes covering individuals affected by the IAC process or by in‑park denials of accommodations.
+Added: The complaint seeks injunctive relief, damages, and attorneys’ fees.
+Added: The case was removed to the U.S.
+Added: District Court for the District of Maryland in June 2025, following which Six Flags America moved to compel arbitration and stay the action, or alternatively to dismiss, stay, or transfer the case.
+Added: The case was stayed until May 2026, and mediation was scheduled for April 2026.
+Added: The case was not resolved at mediation in early April 2026.
+Added: The case remains stayed pending further order of the court.
+Added: The Company will continue vigorously defending the action.
There have been no material changes to the risk factors previously disclosed in Part I, Item 1A.
−Removed: Risk Factors of the Combined Company's Annual Report on Form 10-K for the year ended December 31, 2024.
+Added: Risk Factors of the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.