NEW YORK, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of AMC Entertainment Holdings, Inc. (NYSE:AMC) from December 20, 2016 through August 1, 2017, inclusive (the “Class Period”), including purchasers in AMC’s secondary public offering on or about February 8, 2017. The lawsuit seeks to recover damages for AMC investors under the federal securities laws.
To join the AMC class action, go to http://rosenlegal.com/cases-1271.html or call Phillip Kim, Esq. or Daniel Sadeh, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or dsadeh@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants during the Class Period made materially 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 true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1271.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Daniel Sadeh, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or dsadeh@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Daniel Sadeh, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
dsadeh@rosenlegal.com
www.rosenlegal.com