AMC Entertainment's Revised Stockholder Settlement Approved by Court

AMC Entertainment has received court approval for a revised stockholder settlement, which involves providing stock worth an estimated $129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan. The approved class settlement does not allow shareholders to opt out and binds them to the agreement. This comes after a prior version of the settlement was rejected by a Delaware judge due to its inclusion of potential claims by preferred shareholders who were not represented in the lawsuit.