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
"With the way they're dragging things out like this, it can't
be a good thing,"...
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