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LightSquared Files for Chapter 11 Bankruptcy

by Todd Haselton | May 14, 2012May 14, 2012 11:35 am PDT

lightsquared

LightSquared has filed for Chapter 11 bankruptcy. The company originally tried to launch a nationwide 4G LTE network in the United States but the FCC ruled that the company’s 4G technology interfered with GPS networks. LightSquared tried fighting back against the FCC’s ruling and said that the benchmark tests were performed at much higher power levels than the 4G LTE network would actually operate on. Sprint had given the company several deadlines to gain approval as part of a 4G LTE partnership but eventually backed out of those deals. Reuters said LightSquared currently has “more than $1 billion of both assets and liabilities.”

[via Reuters]


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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