AMC board named in suit over forgiven loans

? AMC Entertainment Inc. said that a derivative action lawsuit was filed July 31 against its board in a Missouri Circuit Court.

According to its quarterly report filed Monday with the Securities and Exchange Commission, the complaint alleges that the defendants violated their fiduciary duties and wasted corporate assets by causing the company to “improperly” forgive loans to AMC Entertainment Chief Executive Peter C. Brown and Executive Vice President Philip M. Singleton.

The Kansas City, Mo.-based company said in the filing that the plaintiffs seek unspecified damages on behalf of the company, together with their costs.

The plaintiffs named in the lawsuit are Joann Krajewski and Paul McHenry, named on behalf of AMC Entertainment.

Named as defendants are Laurence Berg, Leon Black, Peter Brown, Charles Egan, Jr., W. Thomas Grant, Charles Paul, Marc Rowan and Paul Vardeman, with AMC Entertainment as nominal defendant.

The defendants intend to deny the alleged wrongdoing.