AMC Entertainment Holdings, Inc. Provides Settlement Notice
March 12 2024 - 4:30PM
Business Wire
AMC Entertainment Holdings, Inc. (NYSE: AMC), today announced
that a federal court in New York has issued an order preliminarily
approving a proposed settlement reached by all parties to a civil
action brought by plaintiffs Dennis J. Donoghue and Mark
Rubenstein, each of whom are AMC shareholders, for AMC to recover
so-called “short-swing” profits under Section 16(b) of the
Securities Exchange Act of 1934 (the “Exchange Act”) alleged to
have been realized by defendants Antara Capital Master Fund LP,
Antara Capital Fund GP LLC, Antara Capital LP, Antara Capital GP
LLC, and Himanshu Gulati (collectively, the “Antara Defendants”) in
connection with their purchases and sales of AMC securities. AMC is
party to the suit in name only, which was brought for the benefit
of AMC.
The court will hold a hearing on May 2, 2024 at 1:15 p.m. in
Courtroom 12B at the Daniel Patrick Moynihan United States
Courthouse, 500 Pearl Street, New York, New York to, among other
things, consider whether to finally approve the proposed
settlement. If finally approved, AMC will receive $3,300,000 from
the Antara Defendants and the Antara Defendants will be released
from claims of violations of Section 16(b) of the Exchange Act.
The settlement notice has been posted to the Investor Relations
section of AMC’s website at
https://investor.amctheatres.com/notice-03-12-2024.
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe and the largest throughout the world
with approximately 900 theatres and 10,000 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, website, and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
www.amctheatres.com.
Website Information
This press release, along with other news about AMC, is
available at www.amctheatres.com. We routinely post information
that may be important to investors in the Investor Relations
section of our website, https://investor.amctheatres.com/ . We use
this website as a means of disclosing material, non-public
information and for complying with our disclosure obligations under
Regulation FD, and we encourage investors to consult that section
of our website regularly for important information about AMC. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document. Investors interested in automatically receiving
news and information when posted to our website can also visit
https://investor.amctheatres.com/ to sign up for email alerts.
Forward-Looking Statements
This communication includes “forward-looking statements” within
the meaning of the federal securities laws, including the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as “may,” “will,” “forecast,” “estimate,” “project,”
“intend,” “plan,” “expect,” “should,” “believe” and other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. These
forward-looking statements are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions and speak only as
of the date on which they are made. Examples of forward-looking
statements include statements we make regarding the settlement and
any approval thereof. These forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other
factors, and are based on information available at the time the
statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks,
trends, uncertainties and other facts that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Accordingly, you
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of
future performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. For a detailed discussion of risks,
trends and uncertainties facing AMC, see the section entitled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2023, as thereafter amended, and Form 10-Q for
the quarter ended September 30, 2023, each as filed with the SEC,
and the risks, trends and uncertainties identified in the Company’s
other public filings. The Company does not intend, and undertakes
no duty, to update any information contained herein to reflect
future events or circumstances, except as required by applicable
law.
Category: Company Release
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version on businesswire.com: https://www.businesswire.com/news/home/20240312414685/en/
INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
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