The shooting happened around 9:30 p.m. near 15th Street and Magnolia Avenue, about a mile from the LBPD headquarters, said department spokeswoman Arantxa Chavarria.
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Police say the man was pointing a gun at passing vehicles. When officers arrived, the suspect allegedly refused to drop the gun and a shooting occurred.
The man was pronounced dead at the scene, Chavarria said.
A gun was recovered at the scene, according to authorities.
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The five officers involved were not injured in the shooting.
An investigation is underway, and police are reviewing the officers' body camera footage.
City News Service contributed to this report.