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Friday, August 24, 2007
The Zetetic: Health Care Investor Buys 33.4% of Lions Gate Shares 1 Week before the Release of Michael Moore’s SICKO
One mad blogger tracks a block purchase of stocks with: "Mark H. Rachesky, M.D. purchased 33.4% (over 40 Million) shares of Lions Gate stock one week prior to the scheduled opening of Michael Moore's controversial film "Sicko" which happens to be distributed by Lions Gate and the Weinstein Co. (SEC filing can be found here). The exact day of purchase was June 30, 2007. Sicko debuted in the U.S. on June 22, 2007, earning $4.6 million in 441 theatres and achieving the 4th highest opening weekend for a documentary, after Farienhiet 9/11." Begging the question: Could an investor diminish nationwide distribution of a movie? Read more.
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