Latest Court Ruling Blocks AMC's Stock Conversion Plan, Raising Concerns Over Company's Financial Future

AMC's revised stock conversion settlement proposal was denied by a Delaware court over concerns about potential claims from preferred shareholders.
The court ruling caused AMC's common stock price to surge while preferred shares dropped amid retail investor interest.
AMC's CEO warned the company could run out of cash in two years without the ability to raise funds through share conversion.
The court rejected the proposed settlement plan in response to a lawsuit accusing AMC of rigging a shareholder vote on the conversion.
AMC continues to face financial struggles and volatility as a "meme stock," but saw a successful weekend at the box office.