Harbinger Capital sues Apollo Global over LightSquared losses: WSJ

Philip Falcone’s Harbinger Capital has sued Apollo Global Management, saying it was defrauded into pouring $2 billion into the wireless venture formerly known as LightSquared Inc, the Wall Street Journal reported. Harbinger filed the lawsuit in New York state court Thursday; it accused Apollo of concealing flaws in a planned telecommunications network that ran into regulatory roadblocks years later and drove LightSquared into bankruptcy, the story said.

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