LightSquared Backer Sued by Investors
Philip Falcone and his Harbinger Capital Partners investment fund are being sued by shareholders who allege Falcone has wasted billions of dollars by focusing too heavily on LightSquared. Harbinger is the company that has provided LightSquared with most of its capital to-date. The investors claim that Falcone "knew from the outset, or were reckless in failing to know, that LightSquared's technology interfered with GPS systems." This week, the NTIA and FCC moved to prevent LightSquared from operating its planned LTE network, which means the Harbinger investors "stand to lose substantially all of the value of their investments." LightSquared is considering alternative strategies.
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Any engineers in here? I have a question
Thanks in advance.
The real question is why did the FCC even grant the request with stiuplati...