LightSquared Seeks Probe Into Interference Test Leak

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."


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR