(Reuters) – AMC Entertainment’s (NYSE:) chief executive officer said on Sunday the company has filed an amended filing for a stock conversion plan that would allow the company to issue more shares.

“Yesterday, we, together with the plaintiffs, filed a petition with the Delaware Court to amend the legal release relating to the settlement of the Delaware lawsuit to address the Court’s concerns,” Adam Aaron, CEO of AMC, said in a letter to investors.

He stressed on raising capital for the survival of the company and said, “To protect the shareholder value of AMC in the long term, we need to be able to raise equity capital.”

Aron also noted that a majority of AMC common shareholders and preferred shareholders supported his views on the stock conversion in the March 14 special election.

Delaware Vice Chancellor Morgan Zern declined to approve Friday because the deal would also settle potential claims from preferred shareholders, who were not represented in the lawsuit.

Over 2,800 objections were received from shareholders on the deal.

The company was sued in February for allegedly rigging a shareholder vote that would allow the AMC to convert preferred stock to common stock and issue millions of new shares.

According to a Bloomberg News report, supporters of the deal want Zern AMC to consider a new version of the deal without seeking additional comments from shareholders.