Falcone’s Harbinger Sues U.S. for Blocking LightSquared
This article is for subscribers only.
Philip Falcone’s Harbinger Capital Partners LLC filed a $2 billion lawsuit against the U.S., two years after the Federal Communications Commission refused to approve the wireless broadband service of his now-bankrupt LightSquared Inc.
The U.S. reneged on a March 2010 commitment under which Harbinger agreed to invest billions of dollars to build a network to government specifications, the New York-based investment firm said in a complaint yesterday in the U.S. Court of Federal Claims in Washington.