[aprssig] LightSquared investors sue GPS industry
vk4tec at tech-software.net
Sat Aug 24 14:47:12 EDT 2013
That's such a sad reflection on man kind
What has come of society that such ignorance and stupidity is the norm
Sent from my iPhone
On 25/08/2013, at 1:39 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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