The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of New York
on behalf of purchasers of Lions Gate Entertainment Corp. (“Lions Gate”
or the “Company”) (NYSE:LGF) common stock during the period between
February 11, 2013, and March 13, 2014, inclusive (the “Class Period”).
If you have suffered a loss from investment in Lions Gate common stock
purchased on or after February 11, 2013, and held through the revelation
of negative information during and/or at the end of the Class Period, as
described below, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at 410-415-6616. No class has yet been certified in the
above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff no later than September 9, 2014,
and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions, including whether to
accept a settlement and how much of a settlement to accept for the Class
in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Company units during the
Class Period.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period the existence of a U.S. Securities and Exchange
Commission (“SEC”) investigation into making false and misleading
statements and omissions concerning a series of transactions designed to
prevent a takeover of the Company by Carl Icahn and his affiliates, the
prospect of legal proceedings associated with the misconduct under
investigation, and the Company’s exposure to loss in connection
therewith.
According to the complaint, following the publication of an Order
Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the
Securities Exchange Act of 1934, Making Findings, and Imposing a
Cease-and-Desist Order on March 13, 2014, indicating that the SEC
investigation had been resolved by, among other things, Lions Gate
agreeing to pay $7.5 million in fines and acknowledging that it had
violated the federal securities laws, the value of Lions Gate shares
declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
Copyright Business Wire 2014