AMC Entertainment Holdings, Inc. (NYSE: AMC)
Hagens Berman Sobol Shapiro LLP alers investors to the securities class action pending in the U.S. District Court for the Southern District of New York and to the March 13, 2018 Lead Plaintiff Deadline.
If you purchased or otherwise acquired securities of AMC between December 20, 2016 and August 1, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information contact Reed Kathrein, who is leading the firm's investigation by emailing AMC@hbsslaw.com or calling 510-725-3000.
On February 9, 2017, AMC filed its prospectus with the SEC for the sale of approximately 21.9 million shares at $31.50 per share. The complaint charges defendants with failing to inform investors of material adverse known trends in the Company’s previously acquired Carmike Cinemas business.
On August 1, 2017 after the market closed, defendants reported much worse than expected financial results and highlighted Carmike’s poor performance as a major contributor to AMC’s losses. This news drove the price of AMC shares down about 27% to close at $15.20 on August 2, 2017. The August 2 closing price was nearly 52% below the secondary offering price.
“We’re focused on the defendants’ apparent undisclosed knowledge of problems with the Carmike business and damages to AMC investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding AMC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email AMC@hbsslaw.com.
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