AMC Entertainment receives court approval for revised stockholder settlement

WILMINGTON, Delaware (Reuters) -AMC Entertainment’s revised stockholder settlement was approved by a Delaware judge on Friday, according to a court filing, three weeks after the judge rejected a related deal.

Under the approved class action settlement, cinema operator AMC will provide stock worth an estimated $129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan.

The approved class settlement did not allow shareholders to opt out and binds them to the agreement.

On July 21, the same judge, Delaware Vice Chancellor Morgan Zurn, rejected a prior version of the settlement because it also settled potential claims by preferred shareholders who were not represented in the lawsuit.

That provision was removed from the proposed settlement that Zurn approved on Friday.

(Reporting by Tom Hals in Wilmington, Delaware, editing by Deepa Babington)