May 14, 2012 – Bloomberg reports that LightSquared has filed for bankruptcy. LightSquared had hoped to launch a satellite-based mobile wireless service.  In February 2012, the FCC revoked conditional approval for the network in response to concerns that the LightSquared’s system could interfere with GPS signals. According to the USPTO, LightSquare’s predecessor entity “Mobile Satellite Technologies” has been issued 24 patents to date.