A Loral Space & Communications Inc. investor filed suit in Delaware against its board and backers affiliated with Lions Gate Entertainment chairman Mark Rachesky, challenging their bid to merge it with another affiliate, Telesat Canada, on terms that would allegedly “circumvent” an earlier court ruling.
The lawsuit, filed Monday in Delaware Chancery Court, targets Loral’s directors, including board chairman Rachesky, and affiliates of his investment firm, MHR Fund Management LLC.
It accuses them of engineering the merger to transform certain nonvoting Loral shares held by MHR—stock a judge previously stripped of voting rights—into voting shares of Telesat without compensating public ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.