Companies AMC Entertainment Holdings Inc FollowJuly 23 (Reuters) - AMC Entertainment's (AMC.N) chief executive officer on Sunday said the company filed a revised petition for a stock conversion plan that would allow the company to issue more shares.
Aaron also mentioned that in a March 14 special election a majority of the AMC common shareholders and preferred shareholders supported his views on the stock conversion.
Delaware Vice Chancellor Morgan Zurn on Friday denied approval as the deal would also settle potential claims by preferred shareholders who were not represented in the lawsuit.
The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares.
The settlement's backers want Zurn to weigh the new version of the deal without seeking additional comment from AMC shareholders, according to a Bloomberg news report.
Persons:
Adam Aaron, Aaron, Chancellor Morgan Zurn, Shubhendu Deshmukh, Chris Reese
Organizations:
AMC Entertainment Holdings, AMC, Sunday, Delaware Court, Delaware, Bloomberg, Thomson
Locations:
Delaware, Bengaluru