Hedge-fund manager Philip Falcone is mounting plans for his defense against the civil-fraud charges that could destroy his career. His legal strategy: Blame his lawyers and lieutenants. Juliet Chung has details on The News Hub.
The resolution of LightSquared s Chapter 11 battle will reverberate beyond the two protagonists, Charlie Ergen and Philip Falcone. The question is whether Ergen, LightSquared's biggest creditor, should be allowed to vote on the company's reorganization plan. Falcone, LightSquared s founder, says no. Ergen, he argues, is a competitor who was trying to take over the company.
Philip Falcone and Harbinger Capital admit to wrongdoing. The SEC barred Falcone from securities industry for 5 years and will pay over $18 million; reports CNBC's Kate Kelly.
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