Icahn Lost 'A Ton' on Early Exit of Lionsgate (LGF)

Here's a lesson, kids: do your homework.

How much did Icahn lose from selling his entire Lionsgate (NYSE: LGF) stake in August last year? Lots. According to a release from August 30, 2011, Icahn agreed to sell his shares of Lionsgate -- 44,161,971 in total -- for about $7 per. In all, Icahn grossed $309.13 million.

Following the release of "Hunger Games," Lionsgate shares are trading at $14.22, meaning Icahn effectively lost out on $310 million.

Did Icahn know "Hunger Games" was coming out? Probably, a movie like that takes a while to produce, edit, shoot, and so on.

Instead, Icahn tried to muscle force management out through letter after letter after letter.

Maybe a second lesson should be "don't be mean."

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