Saturday, December 10, 2011

Falcone, LightSquared and a Wells Notice

This is not Falcone's week.

Below we mentioned the 'little problem' of LightSquared's interfering with GPS signals.

The company happens to be owned by Falcone.

Hedge-fund manager Philip Falcone was threatened with possible civil-fraud charges from the top U.S. securities regulator, the latest in a series of setbacks that have buffeted the investor since he rocketed to stardom in 2007. Mr. Falcone and his firm, Harbinger Capital Partners LLC, received so-called Wells notices...

HotAir quoting WSJ

Wells notices are serious business.

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