Saturday, 25 April 2015
Last updated 21 hours ago
Dec 13 2011 | 1:01pm ET
LightSquared, the wireless Internet venture backed by Harbinger Capital Partners, is demanding an investigation into the leak last week of damaging test data.
Government tests of LightSquared's system from Oct. 31 through Nov. 4 found that it caused interference with 75% of receivers tested. Those findings were supposed to be unveiled at a hearing this week, but instead found their way into the news media on Friday.
In a letter to the U.S. departments of Defense and Transportation, LightSquared CEO Sanjiv Ahuja called for "an immediate investigation to determine the circumstances of this leak." Earlier, the company alleged that the leak "attempts to draw an inaccurate conclusion to negatively influence the future of LightSquared and narrowly serve the business interests of the GPS industry."
In his letter to the two Cabinet agencies, Ahuja also blasted the leaked information as "preliminary, incomplete," and said it "did not represent the full findings from the test results."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…