SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 from Investment in Lions Gate Ente...
July 22 2014 - 6:25PM
Business Wire
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.
Brower Piven, A Professional Corporation1925 Old Valley
RoadStevenson, Maryland 21153Charles J. Piven,
410-415-6616hoffman@browerpiven.com
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