Lions Gate Entertainment Corp admitted on Thursday it failed to disclose to investors in 2010 the steps it took to thwart a hostile takeover bid by billionaire Carl Icahn, as part of a major settlement with U.S. regulators.Lions Gate, which produces popular movies and television shows like "The Hunger Games" and "Mad Men," also agreed to pay $7.5 million to settle the charges, the Securities and Exchange Commission said.The settlement marks the sixth time now that the agency has managed to extract an admission of wrongdoing from a defendant as part of a new tougher settlement policy announced last June by SEC Chair Mary Jo White.The SEC's charging documents do not cite Icahn by name, but the case clearly relates to a highly publicized spat between Icahn and the company in 2010.
Lions Gate Entertainment Corp. (Lionsgate) is a global entertainment company with a diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales. Shares of LGF fell by 3.19% or $-1.06/share to $32.20. In the past year, the shares have traded as low as $22.04 and as high as $37.81. On average, 1571050 shares of LGF exchange hands on a given day and today's volume is recorded at 2741320.
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