Cases
AMC Entertainment Holdings, Inc. (NYSE: AMC)
Securities Class Action
Overview
Overview
- Date:
- 1/16/2018
- Company Name:
- AMC Entertainment Holdings, Inc.
- Stock Symbol:
- AMC
- Class Period:
- FROM 12/20/2016 TO 8/1/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, March 18, 2020 – Bragar Eagel & Squire is investigating certain officers and directors of AMC Entertainment Holdings, Inc. (NYSE: AMC) following a class action complaint that was filed against AMC on January 1, 2018.
On November 30, 2016, AMC acquired Carmike Cinemas, and on December 21, 2016, AMC acquired Odeon and UCI Cinemas Holdings. Also on December 21, 2016, AMC filed a shelf Registration Statement with the SEC to permit the Company to offer and sell AMC common shares.
The complaint alleges that the Registration Statement and Prospectus included materially inaccurate statements regarding the revenue growth of its newly acquired Carmike business and omitted material facts and included materially inaccurate statements associated with AMC’s newly acquired international business, including: (i) Carmike’s operations had been experiencing a financial underperformance due to underinvestment in its theaters (ii) Carmike experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters (iii) AMC was able to retain only a very small number of Carmike’s loyalty program members after the Carmike acquisition.
If you are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On November 30, 2016, AMC acquired Carmike Cinemas, and on December 21, 2016, AMC acquired Odeon and UCI Cinemas Holdings. Also on December 21, 2016, AMC filed a shelf Registration Statement with the SEC to permit the Company to offer and sell AMC common shares.
The complaint alleges that the Registration Statement and Prospectus included materially inaccurate statements regarding the revenue growth of its newly acquired Carmike business and omitted material facts and included materially inaccurate statements associated with AMC’s newly acquired international business, including: (i) Carmike’s operations had been experiencing a financial underperformance due to underinvestment in its theaters (ii) Carmike experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters (iii) AMC was able to retain only a very small number of Carmike’s loyalty program members after the Carmike acquisition.
If you are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.