[aprssig] LightSquared investors sue GPS industry
kc6ete at gmail.com
Sat Aug 24 14:08:41 EDT 2013
Sad... How do people amass so much wealth and yet be so ignorant?
On Sat, Aug 24, 2013 at 9:39 AM, Bob Burns W9BU <w9bu_lists at rlburns.net>wrote:
> Just when you thought the LightSquared situation was over, Harbinger
> Capital Partners, and other investors who backed LightSquared, has filed a
> $1.9 billion (yes, billion with a "b") lawsuit against Deere & Company,
> Garmin International, and Trimble Navigation, plus the U.S. GPS Industry
> Council and the Coalition to Save Our GPS.
> You can read more about the suit here:
> Trimble has already announced that they will "vigorously" defend the suit.
> Harbinger has also sued Dish Network Corp. and its chairman Charlie Ergen
> for $4 billion over allegedly improper purchases of LightSquared debt.
> Ergen reportedly bid over $2 billion last month to buy LightSquared.
> LightSquared filed for reorganization under Chapter 11 of the U.S.
> Bankruptcy Code in May 2012.
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> aprssig at tapr.org
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