Sun, Mar 1, 2015
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. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie