LightSquared Says Ch. 11 Plans Leave Investors In The Dark

Law360, New York (October 7, 2013, 3:39 PM EDT) -- LightSquared Inc. on Friday urged a New York federal judge to reject three of four competing disclosure statements in its Chapter 11 proceedings, arguing that the plans lack critical information and contain misstatements.

The wireless communications startup takes aim at plans provided by its owner, Harbinger Capital Partners LLC, and secured lenders, and another one submitted jointly by MAST Capital Management LLC and U.S. Bank NA. LightSquared argues that the disclosure statements can't be approved as they are because they lack adequate information for investors to...
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