AMC Entertainment jumped over 11% while AMC Entertainment Preferred crashed over 12% in premarket trading.
Delaware's Court of Chancery denied a proposed settlement between AMC and shareholders designed to allow a series of transactions leading to a capital raise.
In a ruling issued Wednesday evening, Vice Chancellor Morgan T. Zurn ruled "I write to resolve the plaintiffs’ Unopposed Motion to Lift the Status Quo Order Due to the Parties’ Proposed Settlement ... the Motion is denied."
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