• 30 May 2014 at 4:11 PM

Phil Falcone Insists FCC Do What He Cannot

Falcone, whose Harbinger Capital hedge fund owns the bankrupt LightSquared, a high-speed wireless start-up, is asking the Federal Communications Commission to take “immediate” action to stem the barrels of red ink flowing from the company. In a letter to the FCC, Falcone is urging the regulator to “mitigate further damage” to Harbinger, which invested $3 billion in LightSquared only to see the agency pull the plug on the company in 2012. On Wednesday, Falcone asked the FCC to take “immediate, positive action” to reverse Harbinger’s losses, according to the letter sent by his legal team. [NYP]

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Comments (5)

  1. Posted by InfiniteGuest | May 30, 2014 at 4:14 PM

    Had so hoped the body would be "take LMF 'there.'"

  2. Posted by guest | May 30, 2014 at 4:18 PM

    has he put on weight?

    -jenny craig quant

  3. Posted by guest | May 30, 2014 at 4:18 PM

    tough but fair.

  4. Posted by Squeaky the Mouse | June 2, 2014 at 9:04 AM

    Harbinger is too big to fail? Cool. Now I'm not so worried about HLF

    – B. Ackman

  5. Posted by UBS Day School MD | June 2, 2014 at 1:30 PM

    No one likes a crier where you can't pay to play.