The Traderszone Network

Published in TZ Latest News 21 July, 2015 by The TZ Newswire Staff

Harbinger sues Dish, Ergen over LightSquared, seeks $1.5 billion

Harbinger Capital Partners, the hedge fund firm run by Philip Falcone, filed a new lawsuit accusing satellite TV company Dish Network Corp and its chairman, Charles Ergen, of illegally trying to strip it of control of wireless company LightSquared during its bankruptcy. The lawsuit filed on Tuesday in Manhattan federal court seeks at least $1.5 billion of damages, which Harbinger wants tripled. Harbinger’s lawsuit extends a long-running legal battle over LightSquared, which won court permission on March 26 to emerge from its three-year bankruptcy.