Falcone's LightSquared Files for Bankruptcy

(Reuters) - LightSquared, the wireless startup backed by hedge fund manager Philip Falcone, on Monday filed for Chapter 11 protection.

LightSquared, the wireless startup backed by hedge fund manager Philip Falcone, on Monday filed for Chapter 11 protection.

LightSquared, the troubled wireless communications venture backed by hedge-fund manager Philip Falcone, today filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code. The filing was made in Federal court in lower Manhattan. The filing was not a big surprise. The New York Times notes that bondholders had given LightSquared a deadline ...

Hedge fund manager Philip Falcone has joined the board of LightSquared, the cash-strapped company backed by his firm Harbinger Capital Partners, as he seeks a bigger role in the telecom startup whose chief ...