A pension fund and an AMC Entertainment Holdings Inc. investor defended on Wednesday a settlement they negotiated with the cinema chain so it could proceed with a stock conversion opposed by its meme stock base.
One of those retail traders, Rose Izzo, is asking the Delaware Supreme Court to reverse the settlement approved in August 2023 by a lower court. She alleges the pension fund and the individual investor colluded with AMC to dilute meme stock investors in the conversion of preferred equity units into common stock.
Izzo seeks to reverse a conversion that’s already happened, with roughly 7 million ...
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