Bloomberg News

Lions Gate Suit Against Carl Icahn Voluntarily Dismissed

September 15, 2011

(Adds judge’s March ruling in fourth paragraph.)

Sept. 15 (Bloomberg) -- Lions Gate Entertainment Corp.’s lawsuit against billionaire investor Carl Icahn in Manhattan federal court was voluntarily dismissed by both sides.

Lions Gate, an independent producer of films including “Precious” and “American Psycho” and the “Mad Men” television series, sued Icahn in October, claiming he tried to interfere with the studio’s plan to merge with Metro-Goldwyn- Mayer Inc.

In papers filed with the court today, both sides said the case is being dismissed with prejudice, meaning it can’t be reinstituted. The papers didn’t say whether the dismissal is part of any settlement in the case.

In March, U.S. District Judge Harold Baer dismissed most of Lions Gate’s allegations, permitting it to go forward with a claim that Icahn paid a special price for Dallas Mavericks owner Mark Cuban’s 5.4 percent stake in Lions Gate, which the studio said wasn’t fair to other investors.

William Savitt, a lawyer for Lions Gate and Joseph DiBenedetto, who represents Icahn, didn’t immediately return messages seeking comment on the court filing.

The case is Lions Gate Entertainment Corp. V. Icahn, 1:10- cv-08169, U.S. District Court, Southern District of New York (Manhattan).

--With assistance from Linda Sandler in New York. Editors: Peter Blumberg, Fred Strasser

To contact the reporters on this story: Patricia Hurtado in Manhattan federal court at pathurtado@bloomberg.net; Bob Van Voris in Manhattan federal court at rvanvoris@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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