Charlie Ergen, the chairman of Dish Network Inc. and its controlling shareholder, was recently sued by a fellow shareholder. The basis of the lawsuit is breach of fiduciary duty. Ergen caught the eye of his fellow Dish Network shareholders when he started to invest in a potential competitor. It turns out that he had previously invested and acquired a billion dollars of debt in LightSquared Inc. Subsequently, LightSquared filed bankruptcy and Ergen attempted to bid for its assets in bankruptcy court.