Harbinger Capital Partners and CEO Phil Falcone reached an...
Harbinger Capital Partners and CEO Phil Falcone reached an $18 million settlement with the SEC over two civil actions. “The settlement was made without HCP Parties admitting or denying any of the SEC’s allegations,” Harbinger said in a 10Q SEC…
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filing Thursday (http://bit.ly/10o1sc9). Under the settlement, Falcone is barred and enjoined for two years from starting another hedge fund, it said. During that bar period, the HCP parties and certain Harbinger Capital entities “may not raise new capital or make capital calls from existing investors,” the filing said. The SEC filed charges last year for illicit conduct against Harbinger (CD June 28 p20). Harbinger was the largest investor in LightSquared, a company that had its plans to build a terrestrial network stalled by an FCC action (CD Feb 15/12 p1). The wholesale satellite capacity company filed for Chapter 11 bankruptcy protection last year (CD May 15 p12).