Dish Shareholders Sue Ergen Over LightSquared Bid

DISH Network Corp (NASDAQ:DISH) is facing shareholder wrath over its handling of a takeover bid offer for LightSquared Inc.

Shareholders argue that two directors appointed by DISH Network Corp (NASDAQ:DISH) to a committee to evaluate the merits of a lawsuit have close ties with Chairman Charlie Ergen.

Charlie Ergen’s $2 billion bid for LightSquared

Last year, LightSquared Inc. filed for bankruptcy, saying it will seek to resolve the concerns of U.S. regulators who thwarted the company’s plan to deliver high-speed wireless to as many as 260 million people.