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Deere, GPS Companies Sued For $1.9 Billion

Posted on August 9, 2013

Harbinger Capital Partners, a private hedge fund based in New York, has sued global ag equipment manufacturer Deere & Co. and companies in the global positioning system industry, including Garmin International and Trimble Navigation, for damages of $1.9 billion in an attempt to recover its investment in bankrupt wireless company LightSquared, according to court papers filed in U.S. District Court in Manhattan.

LightSquared filed for bankruptcy in 2012 after Deere and GPS industry groups opposed its plan to build a wireless network because of concerns that LightSquared’s proposed spectrum would interfere with GPS systems used in Deere’s farm machinery and in other applications.

Harbinger Capital Partners has also sued Dish Network Chairman Charles Ergen seeking more than $2 billion in punitive and compensatory damages for an alleged fraudulent scheme to assume control of LightSquared and its wireless spectrum.

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