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Carl Icahn suing Lions Gate

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According to Reuters, Carl Icahn will file a lawsuit against Lions Gate Entertainment Corp, pointing to the studio’s “scorched-earth” methods to attempt to block the billionaire’s bid to take over Lions Gate. Last week, Lions Gate greenlit a “debt-to-equity swap” that killed Icahn’s stakes in the company, and limited his chances of being able to alter Lions Gate’s board. “We view this transaction as a prime example of scorched earth tactics executed with other people’s money — in this case, the money of Lions Gate shareholders — and they will be met with an equally forceful response,” Icahn said to Reuters in a statement.