Lightsquared's Bankruptcy: VZ, T and Icahn Among Big WinnersVW Staff
Phil Falcone's attempt to shake up the cellular data market in the United States has all but failed. His company Lightsquared, which has taken a chunk of the value out of Falcone's Harbinger Capital, filed for Chapter 11 bankruptcy protection yesterday in a move many saw coming. The firm failed to get its creditors to agree to a deal that would give the company more time. The wreckage being colossal it seems there's no turning back for the company.
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