Lionsgate Adopts Icahn-Blocking Poison Pill

Law360, New York (May 12, 2010, 4:39 PM EDT) -- Shareholders of Lions Gate Entertainment Corp. have adopted a poison pill provision aimed at thwarting a takeover by billionaire investor Carl Icahn, despite a Canadian court's ruling that securities regulators are within their rights to block such a measure.

The Vancouver-based company announced Wednesday that investors had confirmed its shareholder rights plan, even though the British Columbia Court of Appeal on Friday dismissed a case Lionsgate had brought in an attempt to overturn a decision declaring the plan invalid.

The vote occurred at a special shareholders...
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