NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into AMC Entertainment Holdings, Inc. (NYSE: AMC).
On March 3, 2016, AMC announced its intention to acquire Carmike Cinemas, completed in December 2016. AMC also acquired European chain Odeon and UCI Cinemas Holdings Ltd. in November 2016 and Stockholm-based Nordic Cinema Group Holding AB in March 2017. In February 2017, the Company conducted a Secondary Public Offering, raising $618 million.
Then, on August 1, 2017, the Company disclosed its financial results for 2Q2017 that included a quarterly net loss of between approximately $174 and $179 million and an expected net loss for the year between $125 and $150 million due in part to integration and performance problems with Carmike and its other acquisitions.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information in connection with its SPO, violating federal securities laws. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
KSF’s investigation is focusing on whether AMC’s officers and/or directors breached their fiduciary duties to AMC’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of AMC shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-amc/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.