Not surprisingly, Lionsgate is trumpeting the fact that Carl Icahn has been dealt another court loss. The New York State Supreme Court just ruled against Icahn's injunction�to unwind�Lionsgate's July 20th deleveraging�manuever �that had the effect of diluting Icahn's stake in Lionsgate from around 37% to around 32.8% and increasing�studio board member Marc Rachesky's stake from around 19% to around 29%.�Icahn�also lost his attempt to stop Rachesky from voting his shares�in the Lionsgate vs Icahn proxy fight�with the showdown set for�the shareholders meeting on�December 14th. Said the court: "It seems to me that the essence of a fight for control of a public company is which faction can win the hearts and proxies of the shareholders.�Although the percentage of shares owned by a faction is a starting point to win�this battle, persuasion is the ultimate vehicle for success."
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