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NY COURT TOSSES OUT ICAHN’S LAWSUIT AGAINS LIONS GATE

March 31, 2011 by · Leave a Comment 

Carl Icahn

Agreeing with a decision by a British Columbia court, the New York State Supreme Court has tossed out a lawsuit brought against Lions Gate Entertainment by dissident investor Carl Icahn. Icahn had sought to overturn a debt-for-equity swap by the company that had reduced his holdings in Lions Gate to 32.8 percent from 38 percent.In his ruling, New York State Supreme Court Justice O. Peter Sherwood observed, “Unavoidably, the court is drawn to the findings of the [British Columbia] court, findings that cannot be relitigated here.”