[ NNSquad ] LightSquared files for Chapter 11 bankruptcy

[Lauren Weinstein <lauren@vortex.com>]

LightSquared files for Chapter 11 bankruptcy

http://j.mp/JSrv4n  (Bloomberg)

   "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.
    LightSquared, based in Reston, Virginia, listed assets of $4.48
    billion and debt of $2.29 billion as of Feb. 29 in a Chapter 11 filing
    today in U.S. Bankruptcy Court in Manhattan. The filing followed
    intense negotiations with creditors, who had requested that the
    company's backer, Philip Falcone, step aside. Falcone and the current
    management team will remain with the company, Terry Neal, a
    LightSquared spokesman, said today."
 
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--Lauren--
Lauren Weinstein (lauren@vortex.com): http://www.vortex.com/lauren 
Co-Founder: People For Internet Responsibility: http://www.pfir.org 
Founder:
 - Data Wisdom Explorers League: http://www.dwel.org
 - Network Neutrality Squad: http://www.nnsquad.org 
 - Global Coalition for Transparent Internet Performance: http://www.gctip.org
 - PRIVACY Forum: http://www.vortex.com 
Member: ACM Committee on Computers and Public Policy
Lauren's Blog: http://lauren.vortex.com
Google+: http://vortex.com/g+lauren / Twitter: http://vortex.com/t-lauren 
Tel: +1 (818) 225-2800 / Skype: vortex.com
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