Dish Shareholders Accuse Chairman Of LightSquared Scheme

Law360, New York (September 26, 2013, 6:19 PM EDT) -- Dish Network LLC Chairman Charlie Ergen was hit with a shareholder derivative suit Wednesday accusing him of using an investment vehicle to quietly purchase debt from a company with assets desirable to Dish for his own financial gain. 

Ergen purchased $1 billion of debt belonging to bankrupt LightSquared LP in April through an investment entity named SP Special Opportunities LLC. LightSquared holds a number of wireless spectrum licenses, which Dish has spent billions of dollars purchasing in recent years in order to expand the business into a...
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