SAN FRANCISCO, Jan. 6, 2020 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of the shareholders of AMC Entertainment Holdings, Inc. (NYSE: AMC) related to the company's statements and omissions regarding AMC's acquisition of Carmike Cinemas, Inc. ("Carmike") in December 2016 and AMC's international expansion in late 2016 and early 2017. 

In an effort to deleverage the debt it acquired during this expansion, AMD undertook a secondary public offering in February 2017, raising approximately $618 million. Then, on August 1, 2017, the company reported in its financial results for 2Q2017 a net loss for the quarter of between approximately $174 and $179 million, with an expected net loss for the year between $125 and $150 million. In response, the price of AMC common stock fell 27% on August 2, 2017.

A securities class action pending against the company in the U.S. District Court for the Southern District of New York (Case No. 18-cv-00299-AJN), alleges that certain of AMC's directors and officers misled investors as to the adverse trends and risks of the chains purchased in its acquisition binge. On September 20, 2019, U.S. District Judge Alison J. Nathan denied defendants' motion to dismiss, in part, finding that plaintiffs sufficiently alleged that (1) AMC omitted material information regarding Carmike's underinvestment in its theatres, (2) AMC omitted material information regarding Carmike's loyalty program, and (3) AMC omitted material information regarding the seasonality of its newly-acquired European businesses.

The Schubert Firm is investigating potential derivative claims based on harm the company has suffered as a result of potential breaches of fiduciary duty by the company's officers and directors. If you currently own stock in AMC and wish to obtain additional information about derivative claims and your legal rights, please contact Kathryn McCauley via email at kmccauley@sjk.law or by telephone at (415) 788-4220, or fill out the form on our website at www.classactionlawyers.com/AMC.

About Schubert Jonckheer & Kolbe

Schubert Jonckheer & Kolbe has extensive experience in prosecuting securities claims and has successfully represented investors throughout the nation in shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

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SOURCE Schubert Jonckheer & Kolbe LLP

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