SEC fines Lions Gate Entertainment

Posted online March 14, 2014 | 6:32 am

The Securities and Exchange Commission levied a $7.5 million fine against movie studio Lions Gate Entertainment Corp. for failing to properly disclose its role in a complex debt-equity swap that helped it fend off a hostile takeover bid from Carl Icahn in 2010, according to the Associated Press.

The move followed a bid by Icahn in July 2010 to take over the company for $6.50 per share.

Lions Gate is said to have admitted wrongdoing and agreed to pay the fine to the SEC.

Read more from the Associated Press.[[In-content Ad]]

Comments

No comments on this story |

Please log in to add your comment

Least of These executive director exits

Editors' Pick

Open for Business: EarthWise Pet

The first southwest Missouri location of EarthWise Pet, a national chain of pet supply stores, opened; Grey Oak Investments LLC relocated; and Hot Bowl by Everyday Thai LLC got its start.

Most Read