More Trouble for Cineplex: A Canadian judge...

More Trouble for Cineplex: A Canadian judge set aside an interim injunction restraining a group led by Cineplex Odeon Chairman Garth H. Drabinsky from purchasing a 30% stake of Cineplex stock owned by the Charles H. Bronfman family, but Cineplex noted that the transaction won’t proceed until a ruling is obtained from the Quebec Securities Commission. The transaction has been opposed by Cineplex’s largest shareholder, MCA, which said it would appeal the court order. On another front, a shareholder lawsuit was filed in U.S. District Court in Los Angeles against Cineplex and eight directors--but not against any of the MCA or Bronfman family representatives on the Cineplex board. MCA last week disclosed in court that it has been critical of Cineplex’s financial reporting practices.