Falcone Leaves LightSquared Board Amid Bankruptcy Talks
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Philip Falcone resigned from the board of LightSquared Inc., the bankrupt wireless-spectrum owner he has tried to build into a rival to U.S. mobile providers, amid negotiations with creditors to reorganize the company.
Falcone and four other people appointed to the board by his Harbinger Capital Partners voluntarily resigned on June 12, according to a letter filed with the Federal Communications Commission and posted on the agency’s website.