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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

    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

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

    yosoyellobo Icon

    Nov 1, 2006
    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

    Apr 23, 2002
    i agree, but a billion here, a billion there and pretty soon we're talkin' real money!
  4. tonyd79

    tonyd79 Hall Of Fame

    Jul 24, 2006
    Columbia, MD
    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

    Jun 14, 2003
    Salem, OR
    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

    Jan 18, 2007
    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.

    Dec 2, 2010
    Thank you, Senator Stevenson!

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