Harbinger, LightSquared Ask Judge To Reject Dish Sale Plan

Phil Falcone’s Harbinger Capital Partners and LightSquared urged a bankruptcy judge to reject a takeover effort by DISH Network Corp (NASDAQ:DISH).

Harbinger and LightSquared said the Dish deal is inferior to LightSquared’s proposal to reorganize on its own.

Dish bid undervalues LightSquared’s assets

In May 2013, DISH Network Corp (NASDAQ:DISH) offered $2.22 billion to acquire 40 MHz of wireless spectrum held by LightSquared, which is currently bankrupt. However, Harbinger Capital Partners, the principal owner of LightSquared, rejected this bid stating that DISH has resorted to fraudulent means...