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 firstname.lastname@example.org, 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.