(Courthouse News Service) Hedge fund Harbinger Capital claims Apollo Global Management concealed major problems with its plan to build a multibillion-dollar mobile network, inducing Harbinger to invest $2 billion and buy out Apollo’s interest in a company doomed to fail.
In a complaint filed just before Christmas in New York County Supreme Court, Harbinger Capital sued Apollo Global Management, the former owner of SkyTerra, and Apollo-appointed directors of the company for fraud, misrepresentation and breach of fiduciary duty. Harbinger is represented by Marc Kasowitz of Kasowitz Benson Torres in New York City.
