AMC Entertainment Holdings Inc.’s stock fell 1% premarket Monday, after Citigroup opened a downside 30-day catalyst watch for the stock. The move comes as...
AMC Entertainment Holdings Inc.’s stock AMC fell 1% premarket Monday, after Citigroup opened a downside 30-day catalyst watch for the stock. The move comes as investors await a chancery court decision that’s expected to clear the way for the company to convert its AMC Preferred Equity units APE, known as APEs, into common stock. AMC shareholders voted in support of the company’s proposal to convert the APEs in March, but the company was then hit with a class-action lawsuit.
The move comes as investors await a chancery court decision that’s expected to clear the way for the company to convert its AMC Preferred Equity units APE , known as APEs, into common stock. AMC shareholders voted in support of the company’s proposal to convert the APEs in March, but the company was then hit with a class-action lawsuit. AMC subsequently reached an agreement to settle the court fight but a chancery judge must approve the settlement proposal after a two-day hearing last week.
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