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Stock impact report

Globalstar ordered to produce witness in merger suit [Seeking Alpha]

Globalstar, Inc. (GSAT) 
Last globalstar, inc. earnings: 2/27 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: globalstar.com/investors
Company Research Source: Seeking Alpha
Globalstar (NYSEMKT: GSAT ) has been ordered to produce a witness for a June 21 deposition in a lawsuit filed by one of its investors, Bloomberg reports. Shares are after hours. Jason Mudrick and Mudrick Capital Management sued the company in May over a planned merger with FiberLight and other assets also controlled by Globalstar chief Jay Monroe, calling it a self-dealing transaction. Mudrick had converted into an activist investor the month before, on a quest to prevent the company from taking additional financing from Monroe's Thermo Companies. Mudrick now says it needs a witness for the limited purpose of testifying to the existence and volume of the documents sought in plaintiff’s demand. See all stocks on the move » Now read: Web.com +5% as Starboard Value discloses 9.4% stake » Show less Read more
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