Icahn Raises Specter Of Ch. 11 Over Lionsgate

Law360, New York (June 11, 2010, 3:32 PM EDT) -- Billionaire investor Carl Icahn lashed out Friday at the board of Lions Gate Entertainment Corp., accusing it of driving the television and film production company toward bankruptcy rather than allowing shareholders to consider his tender offer.

In an open letter to the board, Icahn warned that he would not be extending his $7 per share tender offer past June 16 and accused the board of ambivalence in the face of bankruptcy.

“I am truly mystified by some of your actions — and your inaction — in...
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