(Bloomberg Law) AMC Entertainment Holdings Inc. was blocked by a Delaware judge Friday from converting its controversial APE preferred units into common stock, a ruling that sent the company’s class A shares surging up to 100% in after-hours trading.Most Read from BloombergThe Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It BeganPutin Warns Poland Over ‘Aggression’ Against Ally BelarusUS Recession Becomes Closer Call as Economists Rethink ForecastsWhy South Africa Is on the
AMC Shares Surge as Judge Denies APE Deal in Surprise Ruling bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
On July 6, 2023, the Delaware Court of Chancery issued an important opinion that seeks to further limit the “merger tax” imposed on many companies in the context of significant M&A.
AMC Entertainment Holdings Inc. broke its pledge not to convert its preferred equity units into common stock, one of the company’s “meme stock” investors said Thursday, objecting to a nine-figure settlement that would end litigation over the distressed cinema chain’s so-called APE units.
World Wrestling Entertainment (WWE) Chairman Vincent K. McMahon agreed to pay $1.6 million to class attorneys as a mootness fee for his alleged role in forcing "invalid and inequitable.