Attached files
file | filename |
---|---|
8-K - 8-K - Six Flags Entertainment Corp | a11-10805_18k.htm |
Exhibit 99.1
Arbitration Award Issued
Grand Prairie, TXApril 22, 2011Six Flags Entertainment Corporation (NYSE: SIX) announced today that it has received the arbitrators award in the companys pending arbitration with its former Chief Financial Officer, Jeffrey Speed. The arbitrator found in favor of certain of Mr. Speeds claims and denied others. The amount of the award was $23.65 million, plus interest and attorneys fees. Any potential costs associated with this case would be treated as a one-time restructuring charge. The company is disappointed in and disagrees with the arbitrators award and is currently evaluating its options, including an appeal.
Mr. Speed also has filed a claim with the Department of Labor relating to his discharge. The company vigorously denies the allegations contained in such claim and will be filing its response shortly.
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the worlds largest regional theme park company with 19 parks across the United States, Mexico and Canada. Six Flags Over Texas, the companys flagship location, is celebrating its 50th anniversary season in 2011.
Contact:
Nancy Krejsa
Senior Vice President
Investor Relations and Corporate Communications
+1-972-595-5083
nkrejsa@sftp.com