$AMC Entertainment Preferred(APE)$ $AMC Entertainment(AMC)$

Thinking about the class action and I suspect the lawsuit has no merit because there is no clear harm here.

It was filed 2/20. Based on the prior day closing prices (5.24 and 2.40) Allegheny could have at no additional cost sold their shares of AMC and bought APE shares with the proceeds thereby increasing their share of ownership in the company and their share of voting rights by 13.7%.

Any claim of harm that the creation of APEs undermined voting interests of AMC shareholders or hurt them some other way is clearly false as there was nothing stopping Allegheny from selling their AMC shares and buying APE shares.

If their argument is that their objective is to cause a squeeze in the stock, well that might be market manipulation and they should be sued in turn by anyone who believes this frivolous lawsuit caused them losses.