UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  October 2, 2008

 

GLOBALSTAR, INC.

(Exact name of registrant as specified in its charter)

 

 

Registrant’s telephone number, including area code:  (408) 933-4000

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01  Other Events.

 

On October 2, 2008, Globalstar, Inc. issued a press release to announce the dismissal with prejudice by the United States District Court for the Southern District of New York of a consolidated securities class action lawsuit against the Company and certain of its officers, stemming from the Company’s initial public offering.  The press release is filed as Exhibit 99.1 and is incorporated by reference into this Item 8.01.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

99.1         Press release dated October 2, 2008

 

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

	GLOBALSTAR, INC.
	/s/ Fuad Ahmad
	Fuad Ahmad
	Senior Vice President and
	Chief Financial Officer
Date: October 3, 2008

 

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Exhibit 99.1

 

 

461 SO. MILPITAS BLVD. BUILDING 5

MILPITAS CA

95035 USA

 

NEWS

For Immediate Release

 

LITIGATION AGAINST GLOBALSTAR, INC. DISMISSED

 

MILPITAS, CA. — (October 2, 2008) Globalstar, Inc. (NASDAQ:GSAT), the world’s largest provider of mobile satellite voice and data services to businesses, governments and individuals, today announced that, on September 30, 2008, a consolidated securities class action lawsuit against the Company and certain of its officers, stemming from the Company’s initial public offering, was dismissed with prejudice by the United States District Court for the Southern District of New York.

 

The case, Ladman Partners, Inc. v. Globalstar, Inc. et al No. 07 Civ. 0976 (LAP), USDC SDNY, was filed in 2007.  Plaintiff has the right to file an appeal of the dismissal within 30 days from the date of the dismissal.

 

About Globalstar, Inc.

 

With over 300,000 subscribers, Globalstar is the world’s largest provider of mobile satellite voice and data services.  Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.

 

For more information regarding Globalstar, please visit Globalstar’s web site at www.globalstar.com

 

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For further media information:

Globalstar, Inc.

Dean Hirasawa

(408) 933-4006

[email protected]