- Philip Falcone's Harbinger Capital Partners has filed a new $1.5B lawsuit against Dish Network (NASDAQ:DISH) and Chairman Charles Ergen, extending the long-running legal skirmish over wireless company LightSquared.
- The $1.5B are nominal damages that Harbinger wants to see trebled, charging civil RICO violations.
- Harbinger has charged Ergen and Dish with fraudulently scheming to take its LightSquared equity by stockpiling debt in the wireless firm. LightSquared got court permission to emerge from bankruptcy March 26, which was to result in a heavily reduced equity stake for Harbinger and a $1.5B cash repayment for Ergen.
- A nearly identical lawsuit was dismissed in April by a judge who said the claim didn't belong there. That judge didn't rule on the merits and said Harbinger could pursue the claim elsewhere.
- Previously: Dish wins a battle in shareholder suit over LightSquared (Jul. 17 2015)
- Previously: Judge dismisses Falcone's $1.5B suit against Dish Network, Ergen (Apr. 28 2015)