REPORT: SEC AUTHORIZING LAWSUIT AGAINST HEDGE FUNDER PHIL FALCONE

philip falcone harbinger

Just breaking now from Bloomberg news

The SEC is apparently authorizing a lawsuit against hedge funder Phil Falcone.

The action, which will reportedly be contested, may occur next week.

The suit concerns an unspecified “Goldman deal” according to Bloomberg.

Falcone, who made a fortune during the financial crisis, has seen a huge collapse in his fortune and standing amid a disastrous bet on wireless venture Lighsquared.

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