قالب وردپرس درنا توس
Home / Business / Promise to sue Morgan Stanley over short-term activities

Promise to sue Morgan Stanley over short-term activities



Lyft has accused Morgan Stanley of supporting short-term moves among investors ahead of the company's historic IPO last year, according to CNBC.

The company sought answers from Morgan Stanley in a letter dated 2 April signed by Lyft's council manager Peter Stris, who asked the company for possible activity that supported investors who are contractually subject to lock agreements enter into the company's share.

A lock agreement is a legally binding contract issued by the guarantee authorities to a stock exchange listing prohibiting people near the company, including the manager and employees, from selling shares for a period, typically before the stock's debut.

CNBC also noted that the letter was an answer to a New York Post report citing three sources who said that Morgan Stanley supported Lft's hedging activities, even though the firm said in a statement it refused refused such activity.

A Morgan Stanley spokesperson also denied these reports to CNBC and said that the company "did not market or execute, directly or indirectly, a sale, short sale, hedge, exchange or transfer of risk or value related to any Lifting Store. Lifting shareholder identified by the company or otherwise known to us to be subject to a Lift Lock Agreement. "

Read more : Betting against Lift is the" amateur card ", Citron Research says [1

9659002] The confrontation comes closer to a week after Lyft made his debut in Nasdaq and rises to a valuation of over $ 29 billion on his first day. It was the first tour company in history to become public.

The IPO was just the beginning of more than 100 tech unicorns, or startup valued at $ 1 billion or more, which could be released in 2019, including Pinterest, Airbnb and Lift's rival-share app rival, Uber.


Source link