Harbinger Head Pondering Bankruptcy For LightSquared

Law360, New York (April 5, 2012, 6:07 PM EDT) -- Harbinger Capital Partners LLC head Philip Falcone said Thursday he was considering a bankruptcy filing for LightSquared Inc., the troubled wireless network startup in which the hedge fund has invested $2.9 billion.

The announcement came after federal regulators yanked LightSquared's conditional operating license in February amid concerns that the company's proposed 4G LTE network would interfere with navigation equipment used by airlines.

The regulatory problems have led to steep losses for LightSquared and a putative class action by Harbinger shareholders slamming the investment, which accounts for...
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