Kerrisdale Capital Says GlobalStar (GSAT) TLPS Suffers from Numerous Deficiencies; Sends Letter to FCC

Short seller Kerrisdale Capital continues its attack on GlobalStar (NYSE: GSAT). On Friday, Kerrisdale submitted an ex parte letter to the FCC related to the company's planned Terrestrial Low Power Service (TLPS).

Kerrisdale said the TLPS suffers from a vast array of technical and practical deficiencies. The firm also said the "test results" that Globalstar and its technical partner, Jarvinian Wireless Innovation Fund, have presented to the Commission are inadequate and misleading.

Shares of GSAT are down 10.6% today to $1.61.

The Full Letter is Below:

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