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Harbinger sues Dish, Ergen for $1.5 billion over LightSquared

Discussion in 'News' started by Athlon646464, Jul 9, 2014.

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  1. Athlon646464

    Athlon646464 Gold Members DBSTalk Gold Club

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    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 Link & Discussion Here
     
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