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LightSquared backer sued by investors


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The life boats are beginning to launch and the finger pointing has begun. I wonder if Falcone feels like the Captain of the Costa Concordia.

 

http://online.wsj.com/article/SB10001424052970204880404577229630056962766.html

 

 

 

 

 

Harbinger Investors Sue Over LightSquared

 

NEW YORK—Investors in Philip Falcone's Harbinger Capital Partners sued the fund and Mr. Falcone on Friday, saying the "all in" investment in wireless startup LightSquared Inc. squandered billions of dollars.

The suit, filed in the Southern District of New York, said Mr. Falcone made "deceptive and misleading statements" by not disclosing that he intended to form the new wireless company, which was told this week by the Federal Communications Commission it couldn't operate its network because of Global Positioning System interference .

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The life boats are beginning to launch and the finger pointing has begun. I wonder if Falcone feels like the Captain of the Costa Concordia.

 

Except Falcone didn't bail on LS2...he is going down with his ship! :lol:

 

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