Petition updatePetition To Opt Out of AMC's Proposed Class SettlementAMC settlement approved
brian tUnited States
Aug 12, 2023

As many of you know the Chancery Court approved the AMC settlement yesterday. 

Personally I sent a complaint to my states attorney general. A shareholder asked me to provide a template of such a complaint so here it is:

    The Commonwealth of Delaware, through orders of Delaware Chancery Court, has violated """your state"""" residents, right to due process under the Fourteenth Amendment by depriving holders of personal: Federal Securities claims, State claims and even future claims (“seller claims”) without consent, consideration, or compensation. See: IN RE AMC ENTERTAINMENT. HOLDINGS, INC. STOCKHOLDER. LITIGATION Consol. C.A. No. 2023-0215-MTZ (August 11,2023). The release of personal claims was granted in a non-opt out settlement over the objections of 3800 shareholders, id, and a Petition with over 6500 signatures from shareholders expressing their wishes to opt out. Many from """"your state""" .See: https://www.change.org/p/petition-to-opt-out-of-amc-s-proposed-class-settlement

     “(D)ue process requires at a minimum that an absent plaintiff be provided with an opportunity to remove himself from the class.” Phillips Petroleum Co. v. Shutts, 472 U.S. 797, 812-813 (1985). The August 11th Order of Delaware Chancery Court disregards this bedrock principle anchoring American jurisprudence causing irreparable harm to """"your state"""" residents through abuse Article IV, Section 1 of the United States Constitution and the Full Faith and Credit Act.

      “[A] cause of Action is a species of property.” Logan v. Zimmerman Brush Co., 455 U.S. 422, 428 (1982). And if Congress “wishes to significantly Alter * * * the power of the Government over private property,” It must “enact exceedingly clear language.” U.S. Forest Serv. V. Cowpasture River Pres. Ass’n, 140 S. Ct. 1837, 1849-1850 (2020). No such language exists not federally, not in Delaware and not in """your state"""".

      To justify the release of Federal and your state claims, the Delaware Chancery Court has no jurisdiction over, the Chancery relied on internal case law from activist Chancellors legislating from the bench In the opinion approving an extremely broad release The Delaware Chancery Court found it only “appears” Delaware Law allows the extinguishing of Federal uncertified personal claims in the absence consent from the holder, or compensation for the claim. See: IN RE AMC ENTERTAINMENT. HOLDINGS, INC. July 21 order at 51 (referencing federal claims as “personal” while citing Activision: “it appears Delaware Law would permit the release of personal claims..”) Clearly the Constitution says otherwise. See: Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006); See also: 15 U.S.C. § 78j(b); 17 C.F.R. § 240.10b-5; Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975).

     The Vice Chancellor entering the order depriving '""your states""" residents a right to due process has similarly ignored the Constitution to deprive a gravely ill man (with a prescription) Ivermectin stating “Even the terminally ill do not have a constitutional right to procure and use experimental drugs”. See: DeMarco v. Christiana Care Health Servs., 263 A.3d 423 (Del. Ch. 2021). Maybe this is the way Delaware treats it’s residents, but this blatant disregard for the Constitution is not tolerated in """your state""". If so hundreds if not thousands, of """your states""" residents given no notice of their release of personal property will release valuable claims in the absence of due process or monetary compensation.

       Ironically, just a day before the Chancery Court order the Supreme Court sua spote granted Certiorari on a similar question of law where the US solicitor argued Delaware’s “interpretation of the (bankruptcy) Code would raise serious constitutional questions by extinguishing private property rights without providing an opportunity for the rights holders to opt in or out of the release.” See: Harrington v. Purdue Pharma L.P., (Docket No. 23-124). ""This state"""  should join the solicitor general in slamming the door shut on activist courts sweeping jurisdictional overreach trampling ""your state""" residents right to due process.

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