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WSJ has it Wrong, No “Insider Information” suit against Falcone’s Harbinger Capital

WSJ has it Wrong, No “Insider Information” suit against Falcone’s Harbinger Capital

Date: December 31st, 2009
Despite misleading headlines in the Wall Street Journal, Phil Falcone’s Harbinger Capital Partners has not been sued for using insider information in its 2006 bid for appliance maker Applica Inc. Instead, according to an article by Teri Buhl, Harbinger Capital is being sued for breach of contract and the accounts portrayed in the WSJ did not correctly review court documents. For complete details, please click “source” below.

Notably, the article also revealed that sources close to Harbinger Capital anticipate that Falcone’s two main hedge funds will end the year with earnings of 40-45%.
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