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AMC says it’s reached deal to settle shareholder lawsuit over APE conversion

AMC had proposed converting AMC Preferred Equity (APE) units into common stock, alongside a 10-to-1 reverse stock split.

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AMC Entertainment Holdings Inc. said over the weekend it has reached an agreement to settle a court fight with shareholders concerning a proposed stock conversion.

“AMC has recently reached an agreement to settle a putative stockholder class action concerning the proposed conversion of AMC Preferred Equity Units into Common Stock and reverse stock split,” AMC said on its Twitter account Saturday night.