Court approves AMC Entertainment’s revised stock conversion plan, Bloomberg says

AMC Entertainment won court approval of a stock conversion plan that had launched a shareholder lawsuit and cast a cloud over the company’s efforts to secure new financing, Bloomberg’s Jef Feeley, Mike Leonard, and Chris Dolmetsch report. The settlement, approved on Friday, includes extra shares for individual investors, thousands of whom had opposed it, citing the dilution of their shares among other concerns. Many of them fueled the pandemic-era “meme stock” rally that saved AMC from a bankruptcy filing.