Phil Falcone is struggling. Not in normal person terms as he’s still a billionaire, but you can strike the ‘multi’ from the front of that this year. After suffering 47% losses in 2011, Falcone was forced to lock up his client’s money in light of his failed LightSquared endeavor which was wrecked by US regulations. Many of his clients are frustrated with performance, resulting in a recent lawsuit filing against Harbinger Capital over “deceptive and misleading statements” made while raising money for the fund. It seems like Phil has some serious unwinding of investments ahead, along with some deft PR work, before he shows some serious profit.