05:37 PM EDT, 03/12/2024 (MT Newswires) -- AMC Entertainment Holdings ( AMC ) said Tuesday a federal court in New York issued a preliminary approval of a proposed $3.3 million settlement to a civil action to recover "short-swing" profit.

The civil lawsuit, brought by AMC shareholders Dennis Donoghue and Mark Rubenstein, alleged that certain Antara Capital entities and Himanshu Gulati gained profit from AMC securities transactions, AMC said.

The court will consider final approval of the settlement that also releases the defendants from claims of violation at a hearing on May 2, AMC said.