AMC’s APE Settlement Draws Court Appeal From Retail Investor

An AMC Entertainment Holdings Inc. investor on Friday appealed the shareholder settlement that let the company convert its APE preferred units into common stock, despite having previously said the conversion would be all but impossible to unwind.

Rose Izzo—whose objections played a role in delaying the stock conversion by several weeks—said she would seek to overturn a series of decisions for Delaware’s Chancery Court by Vice Chancellor Morgan T. Zurn, who ultimately signed off on the accord in August after initially stunning the market by rejecting it.

Izzo was one of the nearly 3,000 ordinary shareholders who wrote to ...