Charlie Ergen's Dish Network Corp won dismissal on Tuesday of a lawsuit brought by Phil Falcone's Harbinger Capital Partners in a fight over LightSquared Inc, a wireless communications business that is in bankruptcy. Harbinger had sought $4 billion from Dish in the lawsuit, alleging that Dish had tried to strip Falcone of ownership of LightSquared.The legal team for Ergen had called the lawsuit a transparent bid by Falcone to hold onto LightSquared after driving it into bankruptcy.Judge Shelley Chapman of the U.S. bankruptcy court in New York ruled from the bench after a hearing on Tuesday and dismissed the claims against Dish, attorneys on both sides said afterward.Robert Giuffra, an attorney at Sullivan & Cromwell who represented Dish and co-defendants EchoStar Corp, said Chapman also dismissed all other claims in the lawsuit.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH fell by 0.47% or $-0.23/share to $48.43. In the past year, the shares have traded as low as $30.10 and as high as $46.89. On average, 2544770 shares of DISH exchange hands on a given day and today's volume is recorded at 1218908.
EchoStar Corporation is a holding company. EchoStar Technologies segment designs, develops and distributes digital set-top boxes and related products and technology, including its Slingbox placeshifting technology, primarily for satellite television service providers, telecommunication and cable companies and, with respect to Slingboxes, directly to consumers via retail outlets. Shares of SATS traded higher by 0.34% or $0.16/share to $47.91. In the past year, the shares have traded as low as $26.54 and as high as $44.11. On average, 133770 shares of SATS exchange hands on a given day and today's volume is recorded at 82993.
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