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Lyft suing Morgan Stanley, following reports that the firm was selling a product to help investors short-sell the ride-sharing company’s stock.

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PFontanetta
11
 Posted 2 months, 2 weeks ago

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What a mess.

Lyft is going after Morgan Stanley, following reports that the firm was selling a product to help investors short-sell the ride-sharing company’s stock. Last week, the New York Post reported that Morgan Stanley — the lead underwriter for Lyft’s main rival Uber — was helping investors bet on a drop in Lyft’s stock prices. In response, Lyft sent a letter to Morgan Stanley demanding answers and threatening litigation, according to CNBC. Morgan Stanley has denied the claims, telling CNBC that “[A]ny suggestion that Morgan Stanley has engaged in an effort to apply 'short pressure' to Lyft is false.” The situation could turn out to be a big battle around one of several major tech IPOs this year.
Full article: 

https://www.cnbc.com/2019/04/06/lyft-is-threatening-litigation-against-morgan-stanley-accusing-the-firm-of-supporting-short-selling.html


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    AndrewCalam
    38
     2 months ago

    Mess indeed. They wanna blame somebody.

    This had flop written all over it before it even started.