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Harbinger Hedge May Be Looking to Rev Up Leap Management

New York (HedgeCo.Net) – Activist hedge fund Harbinger Capital might be looking to make some strategic changes to another management team.  They are expected to hold talks with Leap Wireless International, in which they hold a substantial 14.8 percent stake or just over 10 million shares.  The hedge fund is looking to discuss both short-term and long-term management solutions while figuring out the best way to maximize shareholder returns.

“We respect and welcome the views and opinions of all Leap stockholders, said Leap spokesman Greg Lund while avoiding any specifics.  “We look forward to continuing the open and productive dialogue we’ve had and expect to have with all of our stockholders.”

Harbinger is no stranger for pushing for internal change within companies in which they invest.  By acquiring board seats, the hedge fund gets a say in major decisions while giving them more control over the company.  Harbinger won three seats on the board of Media General and two seats on the board of the New York Times after a nasty near proxy battle. 

Shares of Leap closed at $27.90 yesterday and have fallen over 60 percent in the course of a year.

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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