[ACCESSWIRE]
LOS ANGELES, CA / ACCESSWIRE / March 7, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against AMC Entertainment Holdings, Inc. ("AMC" or the "Company") (NYSE: AMC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between December 20, 2016 and August 1, 2017, inclusive (the "Class Period"), including purchasers in AMC's secondary public offering on or about February 8, 2017, are encouraged to contact the firm before March 13, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com
SOURCE: The Schall Law Firm
