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REPORT: SEC AUTHORIZING LAWSUIT AGAINST HEDGE FUNDER PHIL FALCONE
Just breaking now from Bloomberg news…
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.