"AMC Faces New Class-Action Lawsuit for Stock Conversion"
AMC Entertainment Inc is facing a new class-action lawsuit from preferred shareholders challenging its stock conversion plan, just days after settling a legal battle with another group of investors. The lawsuit claims that the conversion plan shortchanges the preferred shareholders and violates the certificate of designation governing AMC's preferred stock. AMC recently received court approval for a settlement in a class-action lawsuit by common stockholders, which allows the company to convert its preferred stock to common shares. The settlement was initially rejected by a judge before being revised and approved.
