LightSquared Seeks Probe Into Interference Test Leak

Dec 13 2011 | 2:01pm 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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...