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Robbins Arroyo LLP: AMC Entertainment Holdings, Inc. (AMC) Misled Shareholders According to Class Action
[December 05, 2018]

Robbins Arroyo LLP: AMC Entertainment Holdings, Inc. (AMC) Misled Shareholders According to Class Action


Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of AMC Entertainment Holdings, Inc. (NYSE: AMC) filed a class action complaint related to the company's secondary public offering on February 8, 2017, and violations of the Securities Exchange Act by AMC's officers and directors between December 20, 2016 and August 1, 2017. AMC owns and operates the world's largest chain of movie theaters.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/amc-entertainment-holdings-inc-dec-2018/

AMC Accused ofMisrepresentations in its Secondary Public Offering Prospectus



According to the complaint, in late 2016, AMC acquired Carmike Cinemas, Inc. and subsequently held a secondary public offering in February 2017, selling over 21 million shares at a price of $31.50 per share and raising $618 million. Although AMC represented to investors that the integration was running smoothly, the acquisition had taken a significant toll on AMC. In fact, AMC failed to retain Carmike's loyalty program members and experienced a substantial loss in market share when its patrons migrated to competitors that had renovated their theaters. As a result, AMC's capital resources and operating results were negatively impacted. On August 1, 2017, AMC announced disappointing preliminary financial results for Q2 2017, causing AMC's stock to plummet nearly 27%, closing at $15.20 per share on August 2, 2017. AMC's stock currently trades at $14.26, less than half the secondary public offering price.

AMC Shareholders Have Legal Options


Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo 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.

Attorney Advertising. Past results do not guarantee a similar outcome.


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