 |
| CLICK HERE TO VIEW CURRENT ISSUE |
 |
| Best of NAMA 2025 |
|
 |
|
LIGHTSQUARED'S OWNER SUES DEERE, OTHERS IN GPS INDUSTRY GROUP
Aug. 12, 2013
Farm Equipment magazine reports:
Reuters is reporting that Phil Falcone's Harbinger Capital has sued tractor maker Deere & Co and companies in the Global Positioning System (GPS) industry for damages of $1.9 billion as it hopes to recoup its investment in bankrupt wireless company LightSquared, court papers show.
LightSquared filed for bankruptcy in 2012 after Deere, Garmin International, Trimble Navigation Ltd and GPS industry groups all opposed its plan to build a wireless network due to concerns that LightSquared spectrum would interfere with GPS systems, which are used in everything from farm machinery to airline navigation.
Harbinger filed the lawsuit in the U.S. District Court in Manhattan on Friday. Garmin International is a subsidiary of Garmin Ltd.
Read more here.
|
|
|
|
|
