Oct
07
JPMorgan Says Felony Plea Shouldn’t Bar LightSquared Stake
By-
Character of airwaves license holders scrutinized by FCC
-
Bank paid $1.8 billion fine and pled guilty to market rigging
JPMorgan Chase & Co. says its felony plea for market rigging shouldn’t bar it from owning part of LightSquared Inc., a satellite company emerging from bankruptcy and trying again to set up a mobile broadband service.
JPMorgan “possesses the requisite character” demanded by the Federal Communications Commission for holders of airwaves licenses, the largest U.S. bank by assets said in an Oct. 6 filing at the agency. JPMorgan said it was responding to questions from FCC staff.
JPMorgan and other banks in May agreed to plead guilty to felony charges of conspiring to manipulate the price of U.S. dollars and euros…
JPMorgan Says Felony Plea Shouldn’t Bar LightSquared Stake
