AMC Entertainment reached a settlement that will allow it go ahead with converting its AMC Preferred Equity units into common shares, while Virgin Orbit filed for chapter 11 bankruptcy protection. A detainee at the Alexander Maconochie Centre has tested positive for COVID-19, the ACT's chief health officer confirmed. The approval process requires that plaintiffs' lawyers notify class members about the settlement and that those class members have an opportunity to object to the proposed deal. 3. NWJmNTliMGQ5YTY1ZjQyYzI2MDZlOTExZDAxODUzYTEzZWViOGU0ZTc4NGM5 Access unlimited news content and The Canberra Times app. There are no showtimes from the theater AMC stock slumps, 'APEs' jump after litigation deal, AMC tumbles as shareholders approve plan to convert APE preferreds, Analysis AMC sets unusual shareholder vote for meme stock sale approval, Dogecoin price spikes following Twitter logo change, U.S. service sector slows in March; inflation cooling - ISM survey, Ex-Intel chief architect explores data center deals for AI startup in India, COLUMN- 'Fragmentation' the buzzword - and what it costs: Mike Dolan, AI stocks tumble after short-seller attack on C3.ai. A PRISONER was found dead in a cell last night (February 1) at the Alexander Maconochie Centre. WebThe latest data from the ABS publication Prisoners in Australia reveals that the ACT currently has the highest rate ratio of Aboriginal incarceration in Australia of 21 and unsurprisingly, the highest indigenous recidivism rate in Australia, of 94 per cent. Subcontractors bringing drugs into the prison. The motion, which is unopposed by AMCs lawyers from Weil, Gotshal & Manges and Richards, Layton & Finger, specifically says that AMC supports the plaintiffs request for Zurn to lift the status quo order and allow the company to complete the share conversion immediately. Is the planning minister just taking the mick? Get in one of two sheds. In a life threatening emergency dial Triple Zero (000), urgent public health matters including environmental health, radiation safety, food poisoning. MWJhNjFjYTMwYTMzODRjYWMyMDA1MzJiMDliZjU0OTFjOTVhZDI1ZGEzMmJm PB Peter Brewer Reporter APEs were up around 22% in the extended session. Read our Privacy Policy. Cash not flowing?Explore your options with RSM. AMC shareholders actually voted in favor of the restructuring last month, but plaintiffs lawyers who contend the shareholder vote was tainted obtained a so-called status quo order to freeze the preferred share conversion until Zurn ruled on their motion to enjoin the equity restructuring. Make a donation and support the future of journalism and media diversity in the ACT. Michael Slater charged with assaulting police Indigenous leader Yunupingu dies, aged 74 Tradies accused of vandalising construction sites Woman charged after death of 10-month-old baby Sydney rental crisis could worsen Sydney houses to get more expensive again Mobiles to be banned in NSW high schools Sticking together through COVID: the ACT way? "Hollywood-style" prisoner escape prompted calls for changes into how both transfers and escapes were handled by staff, Prison guard 'scalped', another left in 'constant pain' after assaults by inmates, documents reveal, Canberra jail's security in question after serious bashing went unnoticed for 45 minutes, 'My celly's not breathing': Prisoner overdosed on ice during 23-hour lockdown, Bruce Lehrmann files defamation claim against the ABC, Finland's NATO membership doubles alliance's border with Russia in major blow to Vladimir Putin, Crocodile bites man sleeping after dark on Newell Beach as wildlife officers investigate, Kurt Toole, brother of NSW Nationals leader, receives four-year jail sentence for dealing ice, cocaine, Names, addresses and bank account details potentially at risk after hack, Tasmanian government says, Former MP Milton Orkopoulos guilty of child sex abuse and drugs charges, Online retailer Book Depository is closing. WebAMC CLASSIC Dothan Pavilion 12. However, we depend on subscription revenue to support our journalism. The best local news sent straight to your inbox every workday! Prison minister revels in contraband coup, Shane proposes a model for the prisons injecting room, An independent inquiry into Steven Freemans death at the prison, Prison savings to be spent on inmate industries. Copyright 2023 MarketWatch, Inc. All rights reserved. As of Tuesday afternoon, Zurn had not yet called for a hearing on the motion to lift the status quo order. Unused high-rise parking spaces costing billions, Successions twisted familys like a pack of feral lions, Breathing sound into the garden of dreams, Book of the Year prize down to seven finalists. Both the conversion and the award of new stock would happen right away under the settlement's terms. "While ACT Policing investigates the incident, the AMC has been placed into lockdown. Every day we package the most popular Riotact stories and send them straight to your inbox. He is believed to have hanged himself. The movie theater chain needs to raise cash as it's not generated positive net income since the third quarter of 2018. The settlement paves the way We ask the questions Canberra wants answered. In the AMC motion to lift the status quo order, shareholder lawyers did not identify any other class actions in which investors received tangible recovery before the deal was approved by the court. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. WebThe Alexander Maconochie Centre is an Australian prison in the Australian Capital Territory, which detains maximum security, minimum security and remand inmates, both male and We are limiting market risk to class members while giving them the option to sell the shares they receive immediately, or to hold and hopefully enjoy greater value as the company pays down debt and strengthens its financial position.. We acknowledge and respect their continuing culture and the contribution they make to the life of this city and this region. The person who tested positive was arrested by ACT police on Thursday, an ACT Policing spokesperson said. 7NEWS. MGM0Y2U3ZWJkYzU0NzEyOGQ2YzAxZDEzYzllZTVhMDhmOGMzYTE1OWYwYTUx Do we need to ban wood heaters to stop woodsmoke pollution? Here's what we learned, Michelle Lee the first woman to row 14,000km across the Pacific Ocean with only sharks and a satellite phone for company, Canberra student who was allegedly raped asked for more sex, court hears, Cleo Smith's kidnapper jailed, court told how he tried to tie her up amid her pleas to see her mum, Former Italian prime minister Silvio Berlusconi in intensive care, death of Indigenous prisoner Steven Freeman prompted calls for changes to "mustering" processes inCanberra's jail, Canberra prisoner Mark Anthony O'Connorhad overdosed on ice despite being under a 23-hour-a-day lockdown. after Friday's cut off for case reporting. 29, 2023 at 4:36 p.m. How should we build the missing middle in Canberra? as well as other partner offers and accept our, had previously voted down a measure that would have given the company the authority. Y2FmZTg2MjRkMzg0OTlkN2RlMjM0Mjg3ODM0NTI0ZmRlOTQ5MjlhMzdiMzI0 ZmFhZTI2NjNjZDM2MDczOGIzYmMyODc4M2E5ODk1MWM3ZDVjY2U1MzI1ZWY0 stock dropped nearly 22% in the extended session Monday after the movie-theater operator said in a filing that it has agreed to settlement terms relating to a shareholder litigation around a stock conversion. Visit a quote page and your recently viewed tickers will be displayed here. Most inmates who have tested positive are described as asymptomatic and are being treated on site. Investors would not have to wait months for the class action approval process to unroll before they receive the benefit of the deal. As the drama surrounding at AMC Entertainment unfolds, an attractive trading opportunity is coming into focus. WebDrive has the latest news, music, and chat, with important local perspectives. Common stock holders, under the settlement's terms, would receive one additional new share for every 7.5 shares they owned before the restructuring. The ACT Government has a responsibility to provide a safe workplace and to protect all staff, detainees and visitors from the health risks associated with exposure to second hand smoke. Leaving a legacy of better Places, Environments and Communities behind every project. ODQyODVjM2Y2OWE1MDcxOGM1NTEwMmQ0N2QwYTYxYTVjMWY2NmUyYmRjMDc0 Discount Matinees; Open Caption (On-screen Subtitles) Food & Drinks Mobile Ordering; Premium subscribers also enjoy interactive puzzles and access to the digital version of our print This is how you can continue to access our trusted content: Jasper Lindell joined The Canberra Times in 2018. The proposed settlement, which was announced in a press release and a U.S. Securities and Exchange Commission filing on Monday afternoon, OWJiZDdlOGIyODA4NTZlYTViZjg4ZjhmNTBkN2U3YTkxM2MzNzEwN2NlNDU0 ABORIGINAL woman Keira Brown has applied to the Supreme Court for a declaration that her human right to have an Aboriginal Health Assessment has been breached while in detention at the Alexander Maconochie Centre. MicroStrategy buys $29.3 million worth of bitcoin: SEC filing, 14 dividend stocks yielding 4% or more that are expected to increase payouts in 2023 and 2024. and communicable disease management phone: Notice to Visitors - Amended visits schedule, Notice to Visitors AMC visits arrangements - 08/2022. -0.30%, Music, festivals, charity events - everything thats happening in the Canberra region. 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If everything goes the way shareholder lawyers and defense counsel for AMC Entertainment Holdings Inc are hoping, court approval of their proposed $100 million class action settlement will be pretty much an afterthought. 4925 N. Edgewood Drive, Provo, UT 84604. Today's Canberra news, live updates & the latest breaking stories from 7NEWS. NTQ2M2MzZmYyNzFiMGE4ZjYzMWQ2M2ZhMDU4YTVlNjI2OTJlYmFmMjMxNWFm ACT police said a report on the death of the detaineewould be prepared for the coroner. This case was not a "This morning, that's exactly what we're working through. In 2020, then-corrections minister Shane Rattenbury asked questions about the security atAMC after it was found a detainee had remained undiscovered for 45 minutes after being stabbed in the head and neck. The first positive case was detected at the Alexander Maconochie Centre (AMC) on Saturday (May 7), two days later positive case numbers had risen to 22. 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