Tue, Dec 12, 2017
A A A
Welcome Guest
Free Trial RSS
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. News Briefs - Italy's Carige to sell consumer credit arm to Chenavari, Less than a year after hedge fund coup, East Bay drug maker cuts jobs, looks to move HQ[more]

    Italy's Carige to sell consumer credit arm to Chenavari Italy's Banca Carige aims to sell its consumer credit unit to London-based hedge fund Chenavari by Dec. 6 when a vital 560 million euro ($664 million) cash call ends. Genoa-based Carige must comply by the end of the year with Europe

  3. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  4. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  5. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa