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Lions Gate Reportedly Sues Icahn

Lions Gate Entertainment is reportedly suing its largest shareholder, Carl Icahn, alleging he interfered with company talks about a merger with MGM.

NEW YORK (

TheStreet

) --

Lions Gate Entertainment

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(LGF)

is suing high-profile investor

Carl Icahn

, its largest shareholder, according to multiple media reports.

The suit alleges Icahn interfered with Lions Gate's efforts to merge with MGM until he was able to obtain a large portion of MGM's debt and thus profit from a combination, the

Associated Press

said.

Lions Gate is suing Icahn for "tortious interference," the

AP

reported, along with various violations of

Securities and Exchange Commission

disclosure rules.

Lions Gate shares closed Thursday's session at $7.28, down 1.8%. Year-to-date, the stock is up almost 28%.

--

Written by Michael Baron in New York.

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Michael Baron

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