SAN DIEGO, Oct. 3, 2019 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of AMC Entertainment Holdings, Inc. (NYSE: AMC) ("AMC" or the "Company") against certain of its officers and directors.
Specifically, a class action lawsuit against AMC and certain of its officers and directors recently survived, in part, the Company's attempts to have the case dismissed.
The class action lawsuit was filed in federal court last year against the Company on behalf of purchasers of the securities of AMC from December 20, 2016 and August 1, 2017, (the "Class Period"). According to the complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) the operations of Carmike Cinemas, Inc., a company acquired by AMC, had been experiencing a prolonged period of financial underperformance due to a protracted period of underinvestment in its theaters; (2) Carmike had experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters; (3) AMC was able to retain only a very small number of Carmike's loyalty program members after the Carmike acquisition; (4) these issues were having a material adverse effect on Carmike's operations and theater attendance; and (5) as a result of defendants' statements and/or omissions, the price of AMC common shares was artificially inflated during the relevant period. When the truth was revealed to the investing public, shares dropped, causing shareholders harm.
If you are a current, long-term shareholder of AMC, holding shares before December 20, 2016, you may have standing to hold AMC harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Additionally, if you have held AMC stock since before December 20, 2016, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP