Company Website:
http://www.bespc.com
NEW YORK -- (Business Wire)
Bragar Eagel & Squire, P.C. announces that a class action lawsuit has
been filed in the U.S. District Court for the Southern District of New
York on behalf of all persons or entities who purchased or otherwise
acquired AMC Entertainment, Inc. (NYSE:AMC) securities in the February
8, 2017 Secondary Public Offering (“SPO”) or on the open market between
December 20, 2016 and August 1, 2017 (the “Class Period”). Investors
have until March 13, 2018 to apply to the Court to be appointed as lead
plaintiff in the lawsuit.
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 purchased or otherwise acquired AMC securities in the February 8,
2017 SPO or on the open market during the Class Period and suffered a
loss, 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 Brandon Walker
or Melissa Fortunato by email at investigations@bespc.com,
or telephone at (212) 355-4648, or by filling
out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating
in commercial and securities litigation. For additional information
concerning the AMC Entertainment, Inc. lawsuit, please go to http://www.bespc.com/amc.
For additional information about Bragar Eagel & Squire, P.C., please go
to www.bespc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180122006633/en/
Contacts:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq. / Melissa
Fortunato, Esq., 212-355-4648
investigations@bespc.com
www.bespc.com
Source: Bragar Eagel & Squire, P.C.
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