Judge's Ruling Sends AMC Stock Soaring 60%
Originally Published 2 years ago — by MarketWatch
Shares of AMC Entertainment Holdings Inc. surged over 60% after a Delaware judge rejected a settlement that would have allowed the movie-theater chain to proceed with its plan to convert preferred units into common stock. AMC has been seeking ways to increase its share count and sell more shares to improve its financial situation, but some investors expressed concerns about share dilution. The judge's ruling focused on the fairness of the settlement and did not address other issues raised by AMC stockholders.
