[aprssig] LightSquared investors sue GPS industry

Bob Burns W9BU w9bu_lists at rlburns.net
Sat Aug 24 10:39:54 CDT 2013


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:

http://www.insidegnss.com/node/3664

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.

Bob...



More information about the aprssig mailing list