AMC stock conversion lawsuit settlement impacts market.

AMC Entertainment's stock tumbled 19% after hours on Monday after it disclosed a binding settlement with plaintiffs in its stock conversion lawsuit providing for its APE conversion to move forward. The settlement includes a payment to the plaintiff class in the form of Class A common stock, a move needed to let a "status quo order" get lifted and allow the company to proceed with converting its AMC Preferred Equity units (APE) into common stock. The APE units were up 31% postmarket.