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joset01 12/5/2012 | 5:42:11 PM
re: Report: LightSquared Fund Sued by Investors

You might ask *that* question about 50% of the lawsuits in the tech industry and that's a conservative guesstimate.

joset01 12/5/2012 | 5:42:11 PM
re: Report: LightSquared Fund Sued by Investors

Investors in a fund though -- not shareholders -- Harbinger put around $3B into LightSquared. That's not chump change if it's all up in smoke.

Pete Baldwin 12/5/2012 | 5:42:11 PM
re: Report: LightSquared Fund Sued by Investors

I can't help but think of the shareholder lawsuits that come around every time a public company's stock goes down.  Lawyers find one guy who owns like 2 shares and make him the 'lead plaintiff,' hoping to get class-action status...


Harbinger would have fewer, and more serious, investors, so I suppose this lawsuit isn't so frivolous.  Still... can't help drawing a comparison in my mind.

Pete Baldwin 12/5/2012 | 5:42:11 PM
re: Report: LightSquared Fund Sued by Investors

Oh sure, I understand. And I'd expect shareholders to be mad, and they've got a right to be. But I can't help wondering what % of this lawsuit's origin was just lawyers waiting for the chance to jump.

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