Update: LightSquared Update - Bankruptcy Could be Monday - 5/14/12

LightSquared officially filed for Chapter 11 bankruptcy in Manhattan US Bankruptcy Court today.

- endgadget

----original post 5/14/12 7 am EDT ---

The Wall Street Journal (subscription required) is the source of comments by those in the know that it's unlikely that LightSquared and its funder will reach a deal on the company's non-payment of debts. LightSquared has until 5 p.m. Monday to negotiate a deal. If the deal is not reached, and an extension is unlikely, the company is expected to file for bankruptcy.

- PC World

Published Tuesday, May 15th, 2012

Written by Adena Schutzberg

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