SAN DIEGO, Oct. 3, 2019 /PRNewswire/ -- Johnson Fistel,
LLP is investigating potential claims on behalf of AMC
Entertainment Holdings, Inc. (NYSE: AMC) ("AMC" or the
"Company") against certain of its officers and directors.
Specifically, a class action lawsuit against AMC and certain of
its officers and directors recently survived, in part, the
Company's attempts to have the case dismissed.
The class action lawsuit was filed in federal court last year
against the Company on behalf of purchasers of the securities of
AMC from December 20, 2016 and
August 1, 2017, (the "Class Period").
According to the complaint, the Company issued false and/or
misleading statements and/or failed to disclose that: (1) the
operations of Carmike Cinemas, Inc., a company acquired by AMC, had
been experiencing a prolonged period of financial underperformance
due to a protracted period of underinvestment in its theaters; (2)
Carmike had experienced a significant loss in market share when its
loyal patrons migrated to competitors that had renovated and
upgraded their theaters; (3) AMC was able to retain only a very
small number of Carmike's loyalty program members after the Carmike
acquisition; (4) these issues were having a material adverse effect
on Carmike's operations and theater attendance; and (5) as a result
of defendants' statements and/or omissions, the price of AMC common
shares was artificially inflated during the relevant period. When
the truth was revealed to the investing public, shares dropped,
causing shareholders harm.
If you are a current, long-term shareholder of AMC, holding
shares before December 20, 2016,
you may have standing to hold AMC harmless from the alleged harm
caused by the officers and directors of the Company by making them
personally responsible. You may also be able to assist in reforming
the Company's corporate governance to prevent future
wrongdoing.
If you are interested in learning more about your legal rights
and remedies, please contact Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If you
email, please include your phone number.
Additionally, if you have held AMC stock since before
December 20, 2016, you can [Click
here to join this action]. There is no cost or obligation to
you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
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SOURCE Johnson Fistel, LLP