AMC Sues Insurers Over APE Dispute as Lawyers Seek $20 Million

AMC Entertainment Holdings Inc. sued nearly 20 insurance companies Friday, claiming they’re breaching its liability policies by refusing to cover the cost of a major investor lawsuit the theater operator plans to settle for more than $100 million.

The lawsuit in Delaware’s Superior Court came the same day AMC disclosed smaller quarterly losses than expected, an announcement said to reflect the film industry’s robust recovery from the Covid-19 pandemic. It also followed hours after lawyers leading the shareholder case asked for $20 million in legal fees as part of the proposed settlement. The request was posted to AMC’s investor website ...