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Harbinger sues Dish, Ergen for $1.5 billion over LightSquared

Discussion in 'General DISH™ Discussion' started by Athlon646464, Jul 9, 2014.

  1. Athlon646464

    Athlon646464 Gold Members DBSTalk Gold Club

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    Feb 23, 2007
    Uxbridge, MA
    Harbinger sues Dish, Ergen for $1.5 billion over LightSquared

    (CNBC) - July 9 (Reuters) - Harbinger Capital Partners has sued Dish Network Corp and its chairman, Charles Ergen, for at least $1.5 billion, accusing them of trying to strip the hedge fund of its control of bankrupt wireless company LightSquared.

    Dish and Ergen engaged in "an illegal scheme involving mail and wire fraud, bankruptcy fraud, tortious interference, and abuse of process," said the complaint. "Defendants wrongfully and deceptively created chaos in the bankruptcy proceedings so that Harbinger would lose control of the LightSquared board."...

    Full Story Here

    [​IMG]
    Philip A. Falcone, chief executive of the hedge fund Harbinger Capital Partners.Credit Brendan Mcdermid/Reuters
     
  2. yosoyellobo

    yosoyellobo Icon

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    Jacksonville Fl
    I would never sue anybody for less than a billion.
     
    1 person likes this.
  3. Nick

    Nick Retired, part-time PITA DBSTalk Club

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    i agree, but a billion here, a billion there and pretty soon we're talkin' real money!
     
  4. tonyd79

    tonyd79 Hall Of Fame

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    I don't often get sued but when I do, I make sure it is for big money.
     
  5. harsh

    harsh Beware the Attack Basset

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    Looks like someone was caught sleeping on the job and wants the government to step in to cover them.

    If Ergen et al are majority debtholders, it seems like they get first dibs on what is left.
     
  6. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    According to this story:

    The story also mentions:

    I'm sure the battle will continue, however.
     
  7. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Thank you, Senator Stevenson!
     

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