Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Falcone fires back at Senator Grassley’s allegations

Thursday, February 02, 2012

Bailey McCann, Opalesque New York: LightSquared and Harbinger are fighting back against insinuations from Senator Chuck Grassley that one of their associates was attempting to bribe him.

Both LightSquared and Harbinger Capital Partners LLC are claiming that the Senator is trying to create an impression of impropriety where none exists.

Harbinger holds a majority stake in LightSquared, which is a next generation broadband company. It had been seeking regulatory approval to continue doing business. Harbinger is a US-based hedge fund operated by billionaire investor Philip A. Falcone, and is supporting the broadband company in its efforts to build a nationwide wireless network.

Senator Grassley is on record as being against LightSquared’s attempts to move forward with this project.

According to the NYTimes, Mr. Grassley, as chairman of the Senate Judiciary Committee, had led a Congressional investigation into Mr. Falcone and LightSquared, seeking documents to determine why the Federal Communications Commission granted the company a crucial waiver. Apparently, the GPS community, which includes some of Grassley’s constituents, fears that Mr. Falcone’s technology could interfere with GPS devices used by everyone.

Th......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1