Tag: harbinger capital

Falcone Under Fire For Schuff International’s Tender Offer

Falcone Under Fire For Schuff International’s Tender Offer

Philip Falcone’s new investment vehicle, HC2 Holdings Inc (OTCMKTS:HCHC), is being attacked by critics for its move to take over a little known but profitable steel fabricator, Schuff International, Inc (OTCMKTS:SHFK). The company’s shares are traded in the over-the-counter market. The […]

Falcone Banned From Managing NY Insurance Firms

Falcone Banned From Managing NY Insurance Firms

Philip Falcone, CEO and chairman of Harbinger Capital Partners LLC, has been banned from running an insurance company in New York for seven years just as Harbinger Capital subsidiary Fidelity and Guaranty Life is planning a $100 million IPO, reports […]

Lenders Group Contests LightSquared Auction

Lenders Group Contests LightSquared Auction

A group of lenders contest LightSquared Inc’s proposed format for an auction of its wireless-spectrum assets. Tiffany Kary of Bloomberg feels the lenders’ action would foil a $2.2 billion offer from a unit of Charlie Ergen’s DISH Network Corp (NASDAQ:DISH). […]

Business as Usual: Phil Falcone Starts a New Company

Business as Usual: Phil Falcone Starts a New Company

Embattled hedge fund manager and billionaire Phil Falcone seems unconcerned by the ongoing lawsuit filed by the Securities and Exchange Commission regarding allegations the he committed fraud putting the interests of investors in a disadvantage position. According to a Forbes […]

Phil Falcone Lived the Good Life As Taxes Went Unpaid

Phil Falcone Lived the Good Life As Taxes Went Unpaid

While failing to pay his taxes, hedge fund billionaire Phil Falcone was still able to travel in style on his private jet. In a Thursday Bloomberg story by Katherine Burton, Saijel Kishan and Joshua Gallu, it recounts the early billionaire lifestyle […]

Falcone’s LightSquared Hits another Roadblock

Falcone’s LightSquared Hits another Roadblock

LightSquared, hedge fund manager Phil Falcone’s venture to bring a national wireless service, had hit another roadblock.  Satellite telecommunications firm, Inmarsat PLC sent LightSquared a default notice yesterday because Inmarsat says they have not received a $56.3 million payment which […]