Intelsat Board Chair David McGlade Accused of Insider Trading in Lawsuit
A class action lawsuit has accused David McGlade, former Intelsat CEO and chairman of its board of directors, along with shareholders BC Partners and FCC’s decision in November 2019 to hold a public C-band auction. The class action lawsuit, filed Jan 14, alleges that McGlade and BC Partners and Silver Lake sold $246 million in stock the same day they learned the FCC turned against a private auction for C-band spectrum. The lawsuit includes testimony from two confidential witnesses — a former Intelsat employee who was a vice president at the time, and a senior executive at the C-Ban...
Source: satellitetoday.com
