is a boutique law firm handling complex and class action litigation, including shareholder derivative litigation, securities class actions, data breach and consumer class actions.

Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs.  Please review any of the case listings  below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company.  Once completed, please return to our office by email to rkh@federmanlaw.com or fax to (405) 239-2112. 

Current Cases

AMC Entertainment Holdings, Inc. [NYSE: AMC]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against AMC Entertainment Holdings, Inc.

Oklahoma City, OK (January 17, 2018) – On January 12, 2018, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against AMC Entertainment Holdings, Inc. (NYSE: AMC). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is December 20, 2016 through August 1, 2017, inclusive, including purchasers in the Company’s secondary public offering on or about February 8, 2017 (the “SPO”). More specifically, the complaint alleges that defendants failed to disclose that Carmike’s operations had been experiencing a prolonged period of financial underperformance due to a protracted period of underinvestment in its theaters, that Carmike had experienced a significant loss in market share when its loyal patrons migrated to competitors that had renovated and upgraded their theaters, that AMC was able to retain only a very small number of Carmike’s loyalty program members after the Carmike acquisition, and that these issues were then having a material adverse effect on Carmike’s operations and theater attendance. As a result of defendants’ false statements and/or omissions, the price of AMC common shares was artificially inflated during the Class Period, trading above $35 per share.

On December 21, 2016, AMC completed the acquisition of Carmike Cinemas, Inc. (“Carmike”) for $858.2 million. AMC also filed a shelf Registration Statement with the SEC to permit the Company to offer and sell AMC common shares. On February 9, 2017, AMC filed the Prospectus for the SPO, which incorporated the Registration Statement. Pursuant to the Registration Statement and Prospectus, AMC sold 20.3 million common shares at $31.50 per share, raising nearly $640 million. The complaint alleges that the Registration Statement and Prospectus included materially inaccurate statements regarding the revenue growth of its newly acquired Carmike business and omitted material facts and included materially inaccurate statements associated with AMC’s newly acquired international business.

On August 1, 2017, after the close of the market, AMC announced its preliminary second quarter 2017 financial results, disclosing that it expected to report total second quarter revenues of approximately $1.2 billion and a net loss in the range of $178.5 to $174.5 million, or a loss of $1.36 to $1.34 per diluted share. AMC also announced that its 2017 revenues were expected to be between $5.10 and $5.23 billion and its 2017 net loss to be between $150 and $125 million, or a loss of $1.17 to $0.97 per diluted share. In response to these much worse-than-expected results, the price of AMC common shares fell nearly 27% in one day to close at $15.20 per share on August 2, 2017, or more than 50% below the price at which the shares were sold in the SPO.

Plaintiff seeks to recover damages on behalf of all AMC Entertainment Holdings, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, March 13, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.

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