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LightSquared Backer Sued by Investors

Feb 18, 2012, 9:04 AM by Eric M. Zeman

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.

Wall Street Journal »

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Comments

This forum is closed.

This forum is closed.

Steve Jobes

Feb 19, 2012, 8:23 PM

Any engineers in here? I have a question

Is the FCC blocking LightSquared's network because it does actually interfere with GPS signals, or is it for political reasons?

Thanks in advance.

dlmjr

According to test results released, if LS is allowed to broadcast from terrestrial towers at magnitudes high enough to be effective, yes, it will interfere with GPS devices.

The real question is why did the FCC even grant the request with stiuplati...
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