Leap Wireless Files For Chapter 11

It was less than a year ago that we had high hopes for Leap Wireless, as the former Qualcomm subsidiary took a different approach to gaining market share in the wireless carrier arena. It appears those strategies didn't work out quite as well as they planned, as they've now filed for Chapter 11 protection. They say they plan to keep on operating, and have a reorganization plan they believe will let them come out of bankruptcy proceedings in a good position, but not many companies (especially in the telecom space) are having much luck getting through the process.