AMC Holder Takes Meme Stock Conversion Case to Supreme Court (1)

An AMC Entertainment Holdings Inc. shareholder is asking the US Supreme Court to overturn a series of rulings that let the theater chain recapitalize, a move opposed by its boisterous base of meme stock investors.

The petition comes a year after AMC converted the AMC Preferred Equity units, or APEs, into common stock following an unusually fierce fight over its settlement with a pension fund that initially challenged the maneuver. The Supreme Court appeal was filed by Rose Izzo, whose objections to the accord previously delayed the stock conversion by several weeks.

The filing opens a new chapter in the ...