The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have lost money investing in the Digital Cinema Destinations Corp. (NASDAQ: DCIN).
According to MarketWatch, Digital Cinema Destinations Corp. is a “motion picture exhibitor dedicated to transforming movie theaters into digital entertainment centers.” Also known as Digiplex, it previously traded on the NASDAQ exchange under DCIN.
In August 2015, DCIN was acquired by Carmike Cinemas, Inc. (CKEC), a “leading entertainment, digital cinema and 3-D motion picture exhibitor.” CKEC completed its stock-for-stock acquisition of DCIN on August 15, gaining DCIN’s twenty-one theaters with 206 screens and “four location pipeline of 33 screens.” Every outstanding share of DCIN was converted into the right to receive 0.1675 shares of CKEC common stock. Carmike’s acquisition of DCIN expanded its entertainment offerings to more than 2,900 screens in 276 locations in 41 state.
Carmike President and CEO David Passman said of the acquisition, “We are delighted to welcome Digiplex’s executives and theatre-level associates to the Carmike family and look forward to their contributions. In the interim, we will also continue with our plans to actively pursue additional movie theatre acquisition opportunities that we expect will generate attractive levels of theatre level cash flow and drive shareholder value.”
Following the acquisition, Digital Cinema Destinations Corp. filed Securities and Exchange Commission Form 8-K, terminating its existing loan agreement and delisting DCIN.
If you have lost money investing in Digital Cinema Destinations Corp. (DCIN), you may be eligible to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.