An investigation on behalf of investors in AMC Entertainment Holdings Inc (NYSE:AMC) shares over potential wrongdoing at AMC Entertainment Holdings Inc was announced.
San Diego, CA -- (SBWIRE) -- 05/30/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at AMC Entertainment Holdings Inc.
Investors who purchased shares of AMC Entertainment Holdings Inc (NYSE: AMC) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain AMC Entertainment Holdings Inc (NYSE: AMC officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 12, 2018, a lawsuit was filed against AMC Entertainment Holdings Inc (NYSE: AMC) over alleged violations of Federal Securities Laws. The plaintiff claims that the defendants failed to disclose that Carmike's operations had been experiencing a prolonged period of financial underperformance due to a protracted period of underinvestment in its theaters, that Carmike had experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters, that AMC was able to retain only a very small number of Carmike's loyalty program members after the Carmike acquisition, that these issues were then having a material adverse effect on Carmike's operations and theater attendance and that as a result of defendants' false statements and/or omissions, the price of AMC common shares was artificially inflated between December 20, 2016 and August 1, 2017, trading above $35 per share.
On May 30, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.
On August 13, 2018, an amended Complaint was filed. On August 15, another amended Complaint to correct a deficiency in the August 13 Complaint was filed.
On November 21, a second amended Complaint was filed and on November 26, 2018, the second amended Complaint was refiled.
On January 22, 2019, Defendants filed a Motion to Dismiss the second amended Complaint.
On September 23, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
Those who purchased shares of AMC Entertainment Holdings Inc (NYSE: AMC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.