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Wireless

Falcone's Harbinger sues Dish's Ergen for USD 4 bln

Wednesday 7 August 2013 | 15:49 CET | News
Phil Falcone's hedge fund sued satellite TV mogul Charlie Ergen and his Dish Network company for USD 4 billion on 6 August 2013 for an alleged loan-trading scheme aimed at stripping Falcone of his control over LightSquared, a bankrupt wireless communications business, reported Reuters. The lawsuit in the US Bankruptcy Court in Manhattan was filed on 6 August as Ergen was confirming on an earnings call with Dish investors the company's interest in acquiring LightSquared. Billionaire Ergen has set his sights on LightSqared after exiting a takeover fight for another wireless company, Sprint,

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Categories: Mobile & Wireless
Companies: Dish Network / Harbinger / LightSquared / Softbank / Sprint
Countries: United States
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