AMC Entertainment Holdings, Inc., based in Leawood, Kansas, has received preliminary approval from a federal court in New York for a proposed settlement in a civil action brought by shareholders Dennis J. Donoghue and Mark Rubenstein. The lawsuit alleges that the Antara Defendants, including Antara Capital Master Fund LP, Antara Capital Fund GP LLC, Antara Capital LP, Antara Capital GP LLC, and Himanshu Gulati, realized “short-swing” profits under Section 16(b) of the Securities Exchange Act of 1934 in connection with their trading of AMC securities.
As part of the proposed settlement, AMC stands to recover $3,300,000 from the Antara Defendants, with the Antara Defendants being released from any claims of violations of the Exchange Act. A hearing to finalize the settlement is scheduled for May 2, 2024, in New York City.
The settlement notice can be found on the Investor Relations section of AMC’s website. AMC Entertainment Holdings, Inc. is the largest movie exhibition company in the United States, Europe, and globally, boasting approximately 900 theaters and 10,000 screens worldwide. The company has made strides in the industry with innovations like Signature power-recliner seats, enhanced food and beverage options, loyalty and subscription programs, and premium large format experiences.
For more information about AMC, visit their website at www.amctheatres.com.
This press release, along with other news about AMC, can be found on their website as well. Investors are encouraged to visit the Investor Relations section regularly for the latest updates. The information provided on the website is not part of this document but serves as a platform for sharing important news.
Forward-looking statements in this communication should be taken with caution, as they are based on current beliefs and assumptions about the future. AMC does not guarantee future performance and will not necessarily achieve the results indicated in these forward-looking statements.
For a detailed discussion of risks facing AMC, refer to their public filings with the SEC. The company does not intend to update any information herein unless required by law.
To read the original source of this information, visit businesswire.com.
For Investor Relations, contact John Merriwether at 866-248-3872 or InvestorRelations@amctheatres.com. For media inquiries, reach out to Ryan Noonan at (913) 213-2183 or rnoonan@amctheatres.com.
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