Harbinger Capital Partners Seeks To Recover LightSquared Losses | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.13.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

Thu, Aug 15, 2013

Harbinger Capital Partners Seeks To Recover LightSquared Losses

Has Filed A Lawsuit Against GPS Makers, Deere & Co Seeking Nearly $2 Billion

Remember LightSquared ... the company that sought to build a wireless broadband network it said would be satellite delivered and then added high-powered terrestrial transmitters that would have interfered with just about every GPS currently in use? Well, they're back, at least in court. Harbinger Capital Partners, the hedge fund group that bought the assets of the company that eventually wound up in bankruptcy, has filed a $1.9 billion lawsuit against GPS makers and others because they did not initially tell LightSquared that there could be an interference problem.

Philip Falcone's Harbinger sued Garmin, Trimble Navigation, the U.S. GPS Industry Council and the Coalition to Save Our GPS, along with the maker of John Deere agricultural equipment, according to a report from Reuters. In the complaint filed last Friday, Harbinger said that it would not have made the investment in LightSquared if the GPS industry had disclosed the potential interference problems between 2002 and 2009.

The suit says the companies engaged in fraud by not making the interference issues known.

Inside GNSS reports that the suit goes on to claim that the GPS manufacturers purposely designed their receivers to use the spectrum owned by LightSquared.

Jim Kirkland, vice president and general counsel of Trimble, said in a statement that the lawsuit was "without merit" and an "attempt to avoid responsibility" on the part of LightSquared. He said Trimble will "vigorously defend" itself against the charges. He said that the losses incurred by Harbinger are a problem only for Harbinger.

The suit was filed in U.S. District court in Manhattan.

FMI: www.nysd.uscourts.gov

Advertisement

More News

Airborne 05.10.24: Icon Auction, Drunk MedEvac Pilot, Bell ALFA

Also: SkyReach Parts Support, Piper Service Ctr, Airliner Near-Miss, Airshow London The Judge overseeing Icon's convoluted Chapter 11 process has approved $9 million in Chapter 11 >[...]

ANN's Daily Aero-Term (05.13.24): ILS PRM Approach

ILS PRM Approach An instrument landing system (ILS) approach conducted to parallel runways whose extended centerlines are separated by less than 4,300 feet and at least 3,000 feet >[...]

ANN's Daily Aero-Linx (05.13.24)

Aero Linx: FlyPups FlyPups transports dogs from desperate situations to fosters, no-kill shelters, and fur-ever homes. We deliver trained dogs to veterans for service and companion>[...]

Airborne-NextGen 05.07.24: AI-Piloted F-16, AgEagle, 1st 2 WorldView Sats

Also: Skydio Chief, Uncle Sam Sues, Dash 7 magniX, OR UAS Accelerator US Secretary of the Air Force Frank Kendall was given a turn around the patch in the 'X-62A Variable In-flight>[...]

Airborne 05.08.24: Denali Update, Dad-Daughter Gyro, Lake SAIB

Also: NBAA on FAA Reauth, DJI AG Drones, HI Insurance Bill Defeated, SPSA Airtankers The Beechcraft Denali continues moving forward towards certification, having received its FAA T>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC