AMC Entertainment receives court approval for revised stockholder settlement

📆 8/11/2023 9:51 PM
📰 ChannelNewsAsia

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WILMINGTON, Delaware: AMC Entertainment's revised stockholder settlement was approved by a Delaware judge on Friday, according to a court filing, three weeks after the judge rejected a related deal. Under the approved class action settlement, cinema operator AMC will provide stock worth an estimated US$129

WILMINGTON, Delaware: AMC Entertainment's revised stockholder settlement was approved by a Delaware judge on Friday, according to a court filing, three weeks after the judge rejected a related deal.

Under the approved class action settlement, cinema operator AMC will provide stock worth an estimated US$129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan.On July 21, the same judge, Delaware Vice Chancellor Morgan Zurn, rejected a prior version of the settlement because it also settled potential claims by preferred shareholders who were not represented in the lawsuit.

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