Obama Backer Receives Wells Notice
Posted on December 9th, 2011 by MoverMike
On December 8, 2011, Harbinger Capital Partners LLC (”HCP”) and certain of its affiliates, including Philip A. Falcone, Omar Asali, and Robin Roger, received “Wells Notices” from the staff of the United States Securities and Exchange Commission. Wells Notices used to be a death sentence. We’ll see if they still are.
In the meantime Falcone is a backer of LightSquared, which allegedly tried to get favors from this administration. Phil Falcone, LightSquared’s backer and CEO Sanjiv Ahuja both donated to Democrat campaigns. Falcone gave $30,400 to the Democratic Senatorial Campaign Committee in 2009 and Ahuja contributed the same amount to the Democratic National Committee in 2010.
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