The FCC's change of heart over whether LightSquared can build a nationwide terrestrial network will undermine confidence in the FCC's policies and lower the value of spectrum across the wireless industry through uncertainty, LightSquared said in its filing. LightSquared said it would be "one of the most disastrous 'bait-and-switch' episodes in the history of telecommunications regulation."

The filing reiterated arguments the carrier has already made repeatedly, saying any interference is not LightSquared's fault, interference tests have been flawed, and the FCC granted LightSquared's predecessor company the right to build a land-based cellular network almost seven years ago.

"This is the one place where all of those different strands of fairness, of law, of technology and policy, are being brought together in one document," Carlisle said.

In the written filing and on the conference call Friday, the company sounded defiant.