Legal
Lions Gate Sued by Pension Fund Seeking to Block Starz Split
- ‘Hunger Games’ studio breached terms of note issue, CPPIB says
- Lions Gate calls pension fund’s lawsuit ‘wholly without merit’
A pedestrian walks past Lions Gate Entertainment headquarters in Santa Monica, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
One of the world’s largest pension funds sued Lions Gate Entertainment Corp. to block the movie and television studio from separating from its struggling Starz cable and streaming service via a blank-check merger.
Canada Pension Plan Investment Board, which manages nearly $700 billion, filed a lawsuit Tuesday in New York alleging Lions Gate violated obligations to investors in a $1 billion 2021 note issue in order to pave the way for its profitable studio business to be transferred to a special purpose acquisition company.