2024-03-12 16:46:38 ET
- AMC Entertainment Holdings ( NYSE: AMC ) said on Tuesday 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 Donoghue and Mark Rubenstein, each of whom are AMC shareholders.
- Agreement for AMC to recover so-called “short-swing” profits alleged to have been realized by the Antara Defendants in connection with their purchases and sales of AMC securities.
- According to the company, 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, to consider whether to finally approve the proposed settlement, AMC added.
- If finally approved, AMC will receive $3.3M from the Antara Defendants.
- Press Release
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AMC Entertainment Holdings provides settlement notice