Deere being sued for fraud in GPS case
Friday, August 09, 2013 3:07 PM
Deere & Co. is under fire as Harbinger Capital is suing Deere and Global Positioning System companies and groups for damages of $1.9 billion, Reuters reported.
Harbinger is looking to recoup its investment in bankrupt wireless company LightSquared.
The lawsuit's defendants had opposed LightSquared's plans to build a wireless network because of concerns it would interfere with GPS systems. Harbinger, which has spent billions of dollars on LightSquared, said in a complaint filed today that it never would have made the investments if the GPS industry had disclosed potential interference problems between LightSquared spectrum and GPS equipment.
Harbinger accused the defendants of fraud and negligent misrepresentation. Deere declined to comment on the case.
LightSquared filed for bankruptcy protection in May 2012 after the Federal Communications Commission revoked permission to build out a new high-speed network that wouldn't interfere with GPS systems.