CNN ^ | 5-14-12 | David Goodman
Unable to reach a deal with its lenders, upstart wireless carrier LightSquared will file for bankruptcy Monday, according to two sources with knowledge of the company's plans.
The move has been widely expected, since the company's options for appeasing its creditors were running out. LightSquare's lenders claim that it has been in default on its debt since its $9 billion partnership with Sprint Nextel
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