UPDATE: Lion’s Gate vs. Image

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The takeover battle between Image Entertainment Inc. and Lion’s Gate Entertainment Corp. raged on Wednesday as Image accused the Santa Monica-based film company of releasing misleading information to intentionally drive down Image’s stock price.


The Chatsworth-based distribution company said in a regulatory filing that Lion’s Gate “appears to be engaged in an unfair and anti-competitive campaign to negatively impact and artificially deflate Image Entertainment’s share price.” Image’s stock price has dipped 2 percent in the past week.


On Tuesday, Lion’s Gate released a letter stating that Image’s poor stock price, sluggish financial performance and failed management strategy were unacceptable and recommended that Image shareholders vote for a slate of board members backed by Lion’s Gate during Image’s annual meeting Oct. 10.

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