BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the March 13, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased AMC Entertainment Holdings, Inc. (“AMC” or the “Company”) (NYSE: AMC) securities between December 20, 2016 and August 1, 2017, inclusive (the “Class Period”). AMC investors have until March 13, 2018 to file a lead plaintiff motion.
Investors suffering losses on their AMC investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On August 1, 2017, AMC announced disappointing preliminary second quarter 2017 financial results, estimating a second quarter net loss of approximately $178.5 to $174.5 million, and a 2017 fiscal year net loss between $150 and $125 million. On this news, shares of AMC fell nearly 27% to close at $15.20 on August 2, 2017, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Carmike’s operations had been experiencing a prolonged period of financial underperformance due to a protracted period of underinvestment in its theaters; (ii) Carmike had 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; (iv) these issues were then having a material adverse effect on Carmike's operations and theater attendance; and (v) as a result of Defendants' false statements and/or omissions, the price of AMC common shares was artificially inflated during the Class Period.
If you purchased shares of AMC during the Class Period you may move the Court no later than March 13, 2018 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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