Icahn Will Seek to Block Lions Gate Director From Voting Shares

Tuesday, 09 Nov 2010 02:06 PM

Nov. 9 (Bloomberg) -- Carl Icahn will ask a court to block Lions Gate Entertainment Corp. board member Mark Rachesky from voting his shares at the studio’s Dec. 14 annual meeting, Icahn’s lawyer told a New York judge.

Icahn, the billionaire chairman of New York-based Icahn Enterprises LP, will file the motion to temporarily stop Rachesky in New York state Supreme Court next week, attorney Joseph DiBenedetto told Justice James Yates today.

Icahn, 74, who is attempting to buy the independent film and TV studio for $7.50 a share, in July sued Vancouver-based Lions Gate in both Canada and New York to reverse an equity-for- debt swap that increased Rachesky’s stake to almost 29 percent. Icahn argues that management conspired with large shareholders to thwart his hostile bid.

The case is Icahn v. Lions Gate, 651076/2010, New York state Supreme Court, New York Country (Manhattan).

--With assistance from Michael White in Los Angeles and Christopher Donville in Vancouver. Editors: Fred Strasser, Charles Carter

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