Will DISH Network (DISH) Stock Be Impacted By Harbinger Lawsuit?

NEW YORK (TheStreet) -- DISH Network Corp. (DISH) and its Chairman Charles Ergen were sued by Harbinger Capital Partners (HRG), seeking at least $1.5 billion for allegedly trying to strip the hedge fund of its control of bankrupt wireless company LightSquared, Reuters reports.

The lawsuit, filed in a Colorado federal court, accused Ergen of engaging in fraud and of violating a federal anti-racketeering law, according to court documents.

Harbinger controls LightSquared, which has been in Chapter 11 bankruptcy since 2012. Ergen is LightSquared's largest creditor, Reuters noted

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Shares of Dish are up 0.57% to $65.53, and Harbinger stock is up 0.32% to $12.67 this morning.

DISH Chart

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