Lawsuit alleging Lions Gate hid SEC probe is thrown out

Reuters News
Posted: Jan 22, 2016 4:40 PM

(Reuters) - Lions Gate Entertainment Corp, the studio behind the "Hunger Games" movies, on Friday won the dismissal of a lawsuit claiming it defrauded shareholders by concealing a U.S. regulatory probe into its effort to thwart a hostile takeover by billionaire Carl Icahn.

U.S. District Judge John Koeltl in Manhattan said the plaintiff shareholders failed to show that Lions Gate's disclosures related to the U.S. Securities and Exchange Commission probe were materially false or misleading, or that the company intended to deceive them.

(Reporting by Jonathan Stempel in New York; Editing by Meredith Mazzilli)