Lions Gate Entertainment Corporation was hit with a shareholder lawsuit on Friday alleging that it fraudulently concealed a Securities and Exchange Commission investigation into whether it deceived shareholders as it sought to fend off a hostile takeover bid by investor Carl Icahn, Reuters reports.
Lions Gate, based in Santa Monica, Calif., and Vancouver, is best known as distributor of the “Hunger Games” movies and producer of the TV show “Mad Men.” On March 13, 2014, the company agreed to pay $7.5 million and admit wrongdoing to settle the SEC’s charges, according to the SEC.
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