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Rachesky, through his LLC, is the largest shareholder in Lions Gate, with a 19.8 percent MHR Fund Management will supportr management's slate of nominees at the according to a release from Lions Gate. The statement said that the rest of the slates will be announced at a later The nomination of Rachesk y is likely in response to pressure from activist investorCarl Icahn, who has been uppinb his stake recently. Rachesky is a former Icahn advisor. Rumors have persisted as to whethefrIcahn . He has been critical of the studio's expensez and expenditures, especially . Icahn currently holds a 16.9 percent stake in the company.
Should an individuapl gain more than 20 percent of the a change of control threshold would be potentially resulting in a default onthe company'sa $340 million credit facility. Santa Monica-based Lions Gate LGF) is a movie studio. Amonyg its titles are the TylerPerry "Madea" comediesx and the "Saw" horror franchise.
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