Icahn Sues Lionsgate To Reverse 'Sham' Transaction

Law360, New York (July 26, 2010, 5:43 PM EDT) -- Carl Icahn launched a fresh attack Monday in his campaign to take over Lions Gate Entertainment Corp., suing the television and film production company for allegedly using a debt-to-equity transaction to shut out the billionaire investor and consolidate power with management.

Icahn, who remains the largest shareholder in Lionsgate, contended that the company's executives violated a 10-day cease-fire and failed to disclose the true aim of a recent debt issuance, in a complaint filed in the Supreme Court of the State of New York.

The high-profile...
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