(Updates on settlement details from second paragraph)
WILMINGTON, Delaware, Aug. 11 (Reuters) – A Delaware judge on Friday approved a revised settlement for equity holders of AMC Entertainment, three weeks after the judge rejected a related agreement.
Under the approved class action settlement, AMC will make available to the movie operator approximately $129 million in stock to holders of its common stock to settle potential legal claims related to the stock conversion plan.
The approved class settlement did not allow shareholders to opt out and bind them to the agreement.
On July 21, the same judge, Delaware Vice Chancellor Morgan Zorn, dismissed an earlier version of the settlement because it also settled potential claims by preferred shareholders who were not represented in the suit.
That clause was removed from the proposed settlement that Zorn agreed to on Friday. (Reporting by Tom Hales in Wilmington, Delaware; Editing by Debbie Babbington)