SEC Said to Authorize Lawsuit Against Harbinger’s Phil Falcone

Philip Falcone, the billionaire hedge-fund manager whose largest investment went bankrupt after being blocked by regulators, now faces a showdown in court with the Securities and Exchange Commission. Falcone, the 49-year-old founder of Harbinger Capital Partners LLC, may be sued by the regulator as soon as this week over claims he improperly borrowed client money [...]