Icahn ups Lions Gate stake to 16.87 percent - Denver Business Journal:

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Many of Icahn's various investmenty entities acquiredabout 1.5 million sharesx (NYSE: LGF) in the latestf purchase, saying in statemenyt that "the common shares of Lions Gate were undervalued." Icahn now controls about 19.8 million and in a statement said that the investment entitiese might acquire more The statement also hinted at a possibles shakeup of the Lions Gate boardf of directors at the next shareholdet meeting.
"The Icahn Affiliates may seek to add nomineed designated by the Icahn Affiliates toLiona Gate's board of directors, whichb could include expanding the size of the boarcd of directors of Liond Gate and/or removing individuals from the boarc of directors of Lions Gate," the statement Santa Monica-based Lions Gate'ws largest shareholder is still Mark Rachesky, a formerd Icahn advisor. Rachesky's stake is just undetr 20 percent. Rumors have persistede as to whetherIcahn . He has been critical of the studio'se expenses and expenditures, especially .