Shareholder Alert: Robbins LLP Announces It Is Investigating the Officers & Directors of AMC Entertainment Holdings, Inc. (AM...
March 24 2020 - 5:36PM
Business Wire
Shareholder rights law firm Robbins LLP announces that it is
investigating the officers and directors of AMC Entertainment
Holdings, Inc. (NYSE: AMC) for breaches of fiduciary duties,
contribution and indemnification, and alleged violations of the
Securities Exchange Act of 1934. AMC owns, operates, or has
interests in theaters located in the United States and Europe.
If you suffered a loss as a result of AMC's misconduct, click
here.
AMC Entertainment Holdings, Inc. (AMC) Accused of Misleading
Shareholders
According to allegations in a pending securities class action
lawsuit, in late 2016 and early 2017, AMC undertook a series of
large acquisitions, including Carmike Cinemas Inc. ("Carmike"),
Odeon and UCI Cinema Holdings Limited, and Nordic Cinema Group,
transforming AMC into the largest theater company in the world. AMC
then made public statements assuring the integration of the
acquisitions and touting the Company's prospects moving forward.
However, on August 1, 2017, AMC released shockingly disappointing
preliminary results for second quarter of 2017, citing Carmike's
poor performance, Carmike's underinvestment in theaters, and the
seasonality of its international business. On this news, AMC's
stock price plummeted 27% to $15.20 per share, representing a 57%
decline from its recent class period high of $34.45. Consequently,
on January 12, 2018, investors filed a class action lawsuit against
AMC for alleged violation of federal securities laws. On September
23, 2019, the lawsuit survived the motion to dismiss, paving the
way for further litigation.
AMC Entertainment Holdings, Inc. (AMC) Shareholders Have
Legal Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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