AMC Settlement With Antara Over APE Short-Swing Profits Approved

Blackstone Inc.-backed hedge fund Antara Capital LP and founder Himanshu Gulati got court approval for a $3.3 million settlement of claims they made $20 million in short-swing profits on AMC Entertainment Holdings Inc.

Antara will hand the money directly to AMC, which will then pay a $742,500 contingency fee to counsel for the investors who brought the case. The claims, brought by AMC stockholders on the company’s behalf, invoked securities laws that require the return of profits key insiders make selling stock within six months of buying it. Judge Jennifer H. Reardon signed off on the agreement May 2. ...