Falcone’s Harbinger Sues Ergen, Dish in LightSquared Control
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Philip A. Falcone’s Harbinger Capital Partners LLC sued Charles Ergen and his Dish Network Corp., claiming Ergen is fraudulently trying to take control of Falcone’s bankrupt company, LightSquared Inc.
Ergen and other entities he controls “are engaged in a fraudulent scheme,” that has involved buying up the company’s debt in secret to gain an advantage in taking over its assets, according to the lawsuit, filed in Manhattan bankruptcy court today. The lawsuit also named EchoStar Corp., SP Special Opportunities LLC, and L-Band Acquisition LLC, which has offered to buy LightSquared’s assets out of bankruptcy for more than $2 billion.