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AMC Entertainment | 8-K: AMC Entertainment Holdings, Inc. Provides Settlement Notice

SEC announcement ·  Mar 12 16:54
Summary by Moomoo AI
On March 8, 2024, AMC Entertainment Holdings, Inc. (AMC) announced a preliminary court approval for a settlement in a civil action filed by shareholders Dennis J. Donoghue and Mark Rubenstein. The lawsuit, aimed at recovering alleged 'short-swing' profits under Section 16(b) of the Securities Exchange Act of 1934, was brought against the Antara Defendants, including Antara Capital Master Fund LP and Himanshu Gulati. AMC, named in the suit only for procedural reasons, stands to benefit from the settlement. The proposed agreement, if finalized, would result in AMC receiving $3.3 million from the Antara Defendants, who would also be released from the related claims. A hearing is scheduled for May 2, 2024, to potentially finalize the settlement. The terms of the settlement and the upcoming hearing are detailed in the Notice of Pendency of Derivative Action and Hearing on Proposed Settlement and Motion for Settlement Approval, available on AMC's website.
On March 8, 2024, AMC Entertainment Holdings, Inc. (AMC) announced a preliminary court approval for a settlement in a civil action filed by shareholders Dennis J. Donoghue and Mark Rubenstein. The lawsuit, aimed at recovering alleged 'short-swing' profits under Section 16(b) of the Securities Exchange Act of 1934, was brought against the Antara Defendants, including Antara Capital Master Fund LP and Himanshu Gulati. AMC, named in the suit only for procedural reasons, stands to benefit from the settlement. The proposed agreement, if finalized, would result in AMC receiving $3.3 million from the Antara Defendants, who would also be released from the related claims. A hearing is scheduled for May 2, 2024, to potentially finalize the settlement. The terms of the settlement and the upcoming hearing are detailed in the Notice of Pendency of Derivative Action and Hearing on Proposed Settlement and Motion for Settlement Approval, available on AMC's website.
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