Harbinger investors still waiting for Q1 redemptions to be paid
By Britt Erica Tunick
Tue May 31, 2011
Investors said they still don’t know when their payouts are coming and fear the firm will side pocket its LightSquared holdings.
Investors looking to exit Phil Falcone’s
flagship Harbinger Capital Partners fund have found themselves
in limbo. Despite submitting redemption requests by the
firm’s March 31 first-quarter deadline, investors
have not received their money back and also have not been told
when they can expect it. As a result, some investors suspect
that Falcone is planning to side pocket the firm’s
controversial holdings of mobile telecom company
"With the way they’re dragging things out like
this, it can’t be a good thing,"...
ISSN: 2151-1845 / CDC10004H
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