More Executive Margin Calls--This Time At Lions Gate's Films (LGF)

Here at StreetInsider, we have been reporting on the constant stream of margin calls hitting executives at various companies. Late last night, we found out about another executive hit with margin calls.

Lions Gate (NYSE: LGF) vice-chairman Michael Burns, lost 49% of his stake in Lions Gate in a forced liquidation on October 10th by Merrill Lynch (NYSE: MER), which helped propel LGF to a 4-year low.

Merrill made Michael Burns sell a whopping 672,000 Lions Gates shares at $4.04 to meet maintenance requirements. The sales left Lions Gates vice-chairman with 698,635 shares. Lions Gate is currently trading around $7.30, after news that activist investor, Carl Icahn increased his investment in the company.

Lions Gate Entertainment Corp. engages in the production and distribution of motion pictures.
Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!

You May Also Be Interested In

• Reddit (RDDT) added to S&P 500
• Kenon Holdings (KEN) halted, news pending
• Apple Trains Its Own AI Model For China Market With Alibaba's Support- Reuters