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Guest Message by DevFuse

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Harbinger sues Dish, Ergen for $1.5 billion over LightSquared


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4 replies to this topic

#1 OFFLINE   Athlon646464

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Posted 09 July 2014 - 10:54 AM

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."...
 
 
dbpix-falcone-tmagArticle.jpg
Philip A. Falcone, chief executive of the hedge fund Harbinger Capital Partners.Credit Brendan Mcdermid/Reuters

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#2 ONLINE   yosoyellobo

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Posted 09 July 2014 - 11:01 AM

I would never sue anybody for less than a billion.
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#3 OFFLINE   Nick

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Posted 09 July 2014 - 12:05 PM

I would never sue anybody for less than a billion.

 

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


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#4 OFFLINE   tonyd79

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Posted 09 July 2014 - 02:09 PM

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


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#5 OFFLINE   harsh

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Posted 09 July 2014 - 02:43 PM

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.

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