Lions Gate Entertainment Inc. is suing Carl Icahn, accusing the billionaire investor of playing a “double game” in which he alternately claimed to support and oppose a potential merger between the studio and Metro-Goldwyn-Mayer.
The latest legal wrangling could influence a vote Friday by MGM debtholders over whether to accept a pre-packaged bankruptcy plan that would see Spyglass take over the studio’s management.
In a suit filed Thursday in New York federal court, Lions Gate claims Icahn was “secretly plotting” to use the merger as a way to amass a larger slice of MGM’s debt and a bigger stake in the studio — at a discount.
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