The Delaware Supreme Court has upheld AMC’s settlement with shareholders,cappinglitigation over a reverse stock split with a resolution that retail shareholders said wasn’t made in their interest.
On Wednesday,two weeks afterthe case wasarguedbefore a three-justice panel, the courtsummarily affirmedVice Chancellor Morgan Zurn’s approval of the settlement, issued in August afterthe parties agreed tonarrowthe scope of release for claims over Kansas-based AMC’s preferred equity shares, known as APEs.
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