The Delaware Supreme Court has upheld AMC’s settlement with shareholders, capping litigation over a reverse stock split with a resolution that retail shareholders said wasn’t made in their interest.
On Wednesday, two weeks after the case was argued before a three-justice panel, the court summarily affirmed Vice Chancellor Morgan Zurn’s approval of the settlement, issued in August after the parties agreed to narrow the scope of release for claims over Kansas-based AMC’s preferred equity shares, known as APEs.
