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Twitter Faces $124 Million Lawsuit Over Private Share Sale

wochit business
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October 30, 2013 AT 4:15 PM
Two financial firms filed a $124 million lawsuit against Twitter on Wednesday, just days before the microblogging company is set to debut on the New York Stock Exchange. The firms, Precedo Capital Group and Continental Advisors, alleged that Twitter intentionally orchestrated a failed private sale of its shares in an attempt to increase investor interest before the company's initial public offering.