Philip Falcone, the chief executive of principal LightSquared investor Harbinger Capital, may step down as the public face of the company, according to a report from the Wall Street Journal.
Unnamed “people familiar with the negotiations” told the newspaper that Falcone’s agreement with the company’s board may convince LightSquared’s lenders to approve an extension of a debt-term violations waiver, which is set to expire on Monday morning.
Philip Falcone’s Harbinger Capital Partners dove into an illiquid and risky wireless adventure- one which proved to be a big concern for his investors. The adventure brought some legal troubles for both Harbinger and Philip Falcone.... Read Post
Philip Falcone, the hedge fund billionaire behind Harbinger Capital Partners, said his LightSquared wireless venture will go public down the road. Read Post
Hedge funder Phil Falcone has agreed to step down as the public face of Lightsquared so the embattled company can negotiate the extension of a debt payment deadline in order to avoid bankruptcy, the Wall Street Journal reported. The... Read Post