Charlie Ergen

Philip Falcone’s Harbinger Capital Partners is again suing Dish Network Corp. DISH +0.78% and Chairman Charlie Ergen, this time under the federal racketeering statute. Harbinger is suing both Mr. Ergen and Dish for at least $1.5 billion, saying Mr. Ergen violated the Racketeer Influenced and Corrupt Organizations Act when he acquired the debt of LightSquared—the wireless venture controlled by Harbinger—as Dish was making a bid for the company. Harbinger says Mr. Ergen’s purchases caused it to lose money and control of the LightSquared board. Mr. Falcone and other Harbinger officials resigned from the board as part of negotiations for a bankruptcy court restructuring. “Ergen and his fellow RICO Enterprise members pursued their abusive scheme through wire, mail and bankruptcy fraud, abuse of process, tortious interference with contract, and obstruction of justice,” Harbinger lawyers said in a filing with U.S. District Court in Colorado. Under RICO, originally designed to prosecute organized crime, parties can seek more damages than is typically allowed. [WSJ, related]

Phil Falcone thinks that LightSquared’s reorganization plan is way too generous to Charlie Ergen? Well, Charlie Ergen thinks that Phil Falcone’s reorganization plan for LightSquared is way too generous to Phil Falcone, and also not generous at all to himself, his lawyer would like to reiterate once again. Read more »

Third-lien notes payable over seven years by a company that just had to borrow $74 million from people (including Charlie Ergen) to stay afloat through June 15 is more than fair for a man (Charlie Ergen) who created the whole mess in the first place, according to said company. Read more »

The Dish Network chief and Phil Falcone bête noire is not as big a fan of the TWC-Comcast marriage as John Paulson. But if it goes through, he’d just like to remind everyone that it would then be totally unfair not to let him have his way with DirecTV. Read more »

Dish Network Chairman Charlie Ergen was so sure that the debt of a bankrupt wireless Internet venture was the investment of the century that he staked his daughter’s future on it, without telling her or his wife. It definitely had nothing to do with that bankrupt venture’s owning some electromagnetic spectrum that Dish coveted, and if Ergen had Dish’s treasurer make the trades on his behalf, well, that’s just an unfortunate coincidence.

Plus, you know, he doesn’t even want that spectrum anymore. Read more »

Phil Falcone cannot sue people for acting like Phil Falcone, so sayeth a federal bankruptcy judge. But Phil Falcone’s company’s company (for now) can! Read more »

An “awkward position,” maybe. But that doesn’t mean he shouldn’t reap all of the rewards of his maybe-shady-but-probably-not-illegal move to buy half of LightSquared’s debt, and any (either of the, really) independent directors who disagree can hit the road. Read more »