Mon, Oct 20, 2014
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

Banner

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. Opalesque Roundtable: Where are all the good ESG hedge funds?[more]

    Benedicte Gravrand, Opalesque Geneva: What are the benefits of sustainable investing? Many pension funds look to focus on that angle to reflect their company’s good governance, but face many challenges while doing that. A portfolio manager at Univest, a large Dutch pension fund, discusses this is

  2. Bill Gross gives his first investment outlook for Janus fund[more]

    Bill Gross strikes a gloomy tone in his first note to investors at his new gig at Janus Capital. Bill Gross, the renowned bond fund manger, struck a pessimistic chord in his first note to investors at his new gig at Janus Capital. His notes, usually full of silly commentary and upbeat advice, took a

  3. Investing - Big investors move to shore up Fannie, Freddie trade, Two hedge funds eye $1bn support to Sahara to secure Subrata Roy's release[more]

    Big investors move to shore up Fannie, Freddie trade From Forbes.com: Two of the nation’s most prominent investors who have been leading the charge to make a big score out of the shares of Fannie Mae and Freddie Mac moved on Friday to shore up shares of the mortgage giants that plunged r

  4. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  5. Hedge funds post negative returns in the third quarter[more]

    Bailey McCann, Opalesque New York: Q3 hedge fund returns were negative, marking the industry's first quarterly decline since Q2 2013 according to the latest hedge fund data from eVestment. Emerging markets saw losses more than twice that of developed markets. Declines from funds investing in