Senator Warns Ligado Investors of "Massive Risks" to Their Money - Inside GNSS - Global Navigation Satellite Systems Engineering, Policy, and Design

Senator Warns Ligado Investors of “Massive Risks” to Their Money

U.S. Senator Jim Inhofe, R-Oklahoma, wrote an opinion editorial piece at the close of 2020 warning any investors or potential investors in Ligado Networks that they face “massive risks.”

The chairman of the Senate Armed Services Committee, Inhofe has steadily opposed Ligado Network’s push through the Federal Communications Commission for license to broadcast powerful terrestrial signals that would interfere with GPS. In his December 28 piece in Defense News, he writes:

“For anyone considering an investment in Ligado, I have a free piece of advice: buyer beware.

“Sure, the FCC approved the Ligado order back in April, but there are eight separate petitions to reconsider the order pending right now. They are signed by 22 private sector organizations and 14 federal agencies represented by the National Telecommunications and Information Administration, or NTIA. I believe these petitions will be successful in completely repealing Ligado’s permission slip to create interference. Even if they are not, there are three additional strikes that should make any investor fear for their investment.”

Imhofe goes on to point out that in 2020, Ligado Networks spent more than $3 million to lobby members of Congress. Nevertheless, Imhofe believes that pending or completed actions in Washington — the “three strikes” — will eventually overturn the FCC’s grant to Ligado, potentially forcing the company to declare a second bankruptcy, He proceeds to elaborate those three strikes, and concludes:

“Investors need to decide for themselves if they can trust Ligado’s future viability — but I doubt it has been forthcoming about the reality of what’s happening in Washington. If it has not disclosed these three strikes, what else might it be hiding? Three strikes should be enough to show investors that they shouldn’t trust Ligado with any more capital.”