Thursday, April 5, 2012

Falcone Considering Bankruptcy For LightSquared

Hedge fund manager Phil Falcone said he is considering seeking bankruptcy protection for his wireless network company LightSquared Inc., a venture that has consumed billions of dollars from his funds and has become a difficult sticking point with his investors.
A bankruptcy filing is "one of the options I am considering," Mr. Falcone said in an e-mail, saying it's the "best way" for him to maintain control of the company. "Spectrum value does not decrease in bankruptcy,"

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