NEW YORK, NY / ACCESSWIRE / August 30, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Lions Gate Entertainment Corp. ("Lionsgate" or the "Company") (NYSE:LGF-A). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Lionsgate and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 27, 2024, Bloomberg reported that the Canada Pension Plan Investment Board ("CPPIB") has filed a case against the Company in New York to prevent the movie and TV studio from separating from Starz cable and streaming service through a SPAC merger, alleging that Lionsgate violated obligations to investors in a $1 billion 2021 note issue, making way for its studio business to be transferred to a blank-check vehicle.
On this news, Lionsgate's stock price fell $0.84 per share, or 9.76%, to close at $7.77 per share on August 28, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP