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AMC Entertainment Holdings, Inc.

Company NameAMC Entertainment Holdings, Inc.
Stock SymbolAMC
Class PeriodDecember 20, 2016 to August 01, 2017
Lead Plaintiff Motion DeadlineMarch 13, 2018

On August 1, 2017, AMC announced disappointing preliminary second quarter 2017 financial results, estimating a second quarter net loss of about $178.5 to $174.5 million, and a 2017 fiscal year net loss between $150 and $125 million. On this news, shares of AMC fell nearly 27% to close at $15.20 on August 2, 2017, thereby injuring investors.

The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse facts regarding AMC’s business and prospects. Specifically, Defendants failed to disclose: (1)  that Carmike’s operations had been experiencing a prolonged period of financial underperformance due to a protracted period of underinvestment in its theaters; (2) that Carmike had experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters; (3) that AMC was able to retain only a very small number of Carmike’s loyalty program members after the Carmike acquisition; (4) and that these issues were then having a material adverse effect on Carmike’s operations and theater attendance. 

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