Press release
AMC Entertainment Holdings Inc (NYSE: AMC) Investor Notice: Lawsuit filed against Directors over proposed stock increase
An investor in AMC Entertainment Holdings Inc (NYSE: AMC) shares filed a lawsuit against certain directors.
Investors who purchased shares of AMC Entertainment Holdings Inc (NYSE: AMC) and currently hold any of those: AMC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In August 2022 , the CEO of AMC Entertainment Holdings Inc made the decision to create a new class of shares called AMC Entertainment Preferred Equity Units (NYSE:APE).
Initially, 517 million units of AMC Entertainment Preferred Equity Units were issued, or one unit for each outstanding share of NYSE: AMC stock.
In September 2022 AMC Entertainment Holdings Inc announced that it would sell up to 425 million shares of AMC Entertainment Preferred Equity Units (NYSE:APE).
Then in December 2022, AMC Entertainment Holdings Inc announced that it would seek to increase the number of authorized shares of AMC Entertainment Holdings Inc (NYSE: AMC). The meeting to vote on this proposal will be held on March 14, 2023.
However, two lawsuits were filed against directors of AMC Entertainment Holdings Inc (NYSE: AMC) over alleged wrongdoing. The plaintiffs allege that AMC Entertainment Holdings Inc and the CEO have been "eviscerating the voting power of AMC's Class A stockholders in order to force through approval of a proposed dilutive share count increase that those stockholders repeatedly had rebuffed and were not willing to support at the corporate ballot box."
Among other things, the plaintiffs seek to put a halt on the March 14, 2023 vote.
Those who purchased shares of AMC Entertainment Holdings Inc (NYSE: AMC) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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