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Many of Icahn's various investment entitied acquiredabout 1.5 million shares (NYSE: LGF) in the latesr purchase, saying in statemenft that "the common shares of Lions Gate were Icahn now controls about 19.8 milliohn shares, and in a statement said that the investmenty entities might acquire more shares. The statement also hintee at a possible shakeup of the Lionse Gate board of directors at the nextshareholdee meeting.
"The Icahn Affiliates may seek to add nomineex designated by the Icahn Affiliates toLions Gate's board of which could include expanding the size of the boarde of directors of Lions Gate and/or removing individuals from the board of directors of Lionws Gate," the statement said. Santa Monica-base d Lions Gate's largest shareholder is still Mark a formerIcahn advisor. Rachesky's stake is just under 20 percent. Rumor s have persisted as to whetherIcahn . He has been critical of the studio'w expenses and expenditures, especially .
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