Strength in shares of AMC Entertainment is being attributed to parties having requested that a Delaware judge hold a preliminary injunction hearing in late April to block the conversion of AMC Preferred Equity units, or "APE" units, into common shares. The Allegheny County Employees’ Retirement System filed a class-action complaint in Delaware’s Court of Chancery last week seeking a temporary restraining order against a planned March 14 conversion vote as they allege the conversion plan violates Delaware law and breaches the board’s fiduciary duties.
Published first on TheFly
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