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AMC Entertainment Holdings (NYSE:AMC) said on Tuesday that a federal court in New York has issued an order preliminarily approving a proposed settlement reached by all parties to a civil action brought by plaintiffs Dennis Donoghue and Mark Rubenstein, each of whom are AMC shareholders. Agreement for AMC to recover so-called “short-swing” profits alleged to have been realized by the Antara Defendants in connection with their purchases and sales of AMC securities. According to the company, AMC is party to the suit in name only, which was brought for the benefit of AMC. The court will hold a hearing on May 2, 2024, to consider whether to finally approve the proposed settlement, AMC added. If finally approved, AMC will receive $3.3M from the Antara Defendants. Press Release
