Twitter Inc. has made quick work of a $124 million lawsuit alleging that it duped two investment advisers into propping up demand for Twitter shares ahead of the company’s initial public offering.
In a one-sentence order issued on Aug. 14, the U.S. Court of Appeals for the Second Circuit affirmed dismissal of the case, which was brought by Precedo Capital Group Inc. and Continental Advisors SA last fall. The plaintiffs, trounced at the trial court level, seemingly walked away from their appeal: The Second Circuit wrote that it was dismissing the case because Precedo and Continental failed to meet a deadline for filing documents necessary to their appeal.
