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Financial

Falcone Suggests LightSquared Bankruptcy

NEW YORK -- Yesterday Phil Falcone said that one of several options he was seriously considering recommending to the LightSquared Board is a voluntary Chapter 11 filing for LightSquared.

Today, he added to that statement: "While no decision has yet been made, the rationale behind a voluntary filing would be to give us the necessary time to continue with our vision, build the network and protect the company from creditors who are more interested in a quick flip."

LightSquared

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