The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of AMC Entertainment Holdings, Inc. (NYSE: AMC) who purchased shares between December 20, 2016 and August 1, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that, throughout the Class Period, defendants failed to disclose that (1) Carmike’s operations 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 small number of Carmike’s loyalty program members after the Carmike acquisition; and (4) these issues were having a material adverse effect on Carmike’s operations and theater attendance.
Shareholders have until March 13, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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