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November 2, 2010 by · Leave a Comment 

Carl Icahn’s feud with the management of Lions Gate Entertainment encountered a new obstacle on Monday when a Canadian court threw out his effort to overturn a shareholder transaction that diluted his stake in the company. As a result of the decision by the British Columbia Supreme Court, Icahn’s stake in Lions Gate will remain at 33.5 percent. Had the court found in his favor, it would have become 38 percent and increased the possibility of his raising it to 51 percent, giving him control of the entertainment company. Icahn has offered to buy all of the company’s stock, an offer that expires on Nov. 12.