Carmike Cinemas, Inc. (NASDAQ:CKEC) Investor Investigation Concerning Possible Wrongdoing In Acquisition Announced

If you purchased shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) and currently hold any of those NASDAQ:CKEC shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Carmike Cinemas
Affected Securities: 
NASDAQ: CKEC

March 4, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Carmike Cinemas, Inc. (NASDAQ:CKEC), was announced concerning whether the takeover of Carmike Cinemas, Inc. by AMC Theatres for $30.00 per share is unfair to NASDAQ:CKEC stockholders.

The investigation by a law firm concerns whether certain directors of Carmike Cinemas, Inc. breached their fiduciary duties owed to NASDAQ:CKEC investors in connection with the proposed acquisition.

On March 3, 2016, AMC Theatres (AMC Entertainment Holdings, Inc.) (NYSE: AMC) and Carmike Cinemas, Inc. (NASDAQ:CKEC) announced they have entered into a merger agreement pursuant to which AMC Theatres will acquire all of the outstanding shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) for $30.00 per share in cash.

However, given that at least one analyst has set the high target price for NASDAQ:CKEC shares at $36.00 per share and given that NASDAQ:CKEC shares traded in early 2015 as high as $34.55 per share, the investigation concerns whether the offer is unfair to NASDAQ:CKEC stockholders. More specifically, the investigation concerns whether the Carmike Cinemas Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Carmike Cinemas, Inc. reported that its annual Total Revenue rose from $533.91 million in 2012 to $804.37 million in 2015. Shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) reached in 2014 as high as $35.91 per share.