"That might be a little unfair on any non-technically minded investors who relied on the waiver issued by the FCC and the business model that this waiver helped support."
How so? It was a conditional waiver. It also stated that LightSquared was required to resolve the interference issue to the satisfaction of the commission before the network was commercially available. It was in plain English and publicly available for all to read. So if someone made a poor investment decision, then sorry, but life itself is not fair. It is not like the waiver was written in Greek or legal jargon.
Here is part of the waiver:
"41. We agree on the need to address the potential interference concerns regarding GPS as
LightSquared moves forward with plans to deploy and commence commercial operations on its
network.144 Further, we believe that establishing a working group that brings LightSquared and the GPS community together to address these interference issues expeditiously would serve the public interest.
We envision a working group in which cooperative and candid discussions can ensue, and where information, including proprietary information, can be shared among the participants with appropriate measures in place to protect the confidentiality of that information. Commission staff will work with NTIA, LightSquared, and the GPS community, including appropriate Federal agencies, to establish a working group to fully study the potential for overload interference to GPS devices and to identify any measures necessary to prevent harmful interference to GPS. As a condition of granting this waiver, the process described below addressing the interference concerns regarding GPS must be completed to the Commission’s satisfaction before LightSquared commences offering commercial service pursuant to this waiver on its L-band MSS frequencies."