Two Investment Firms Almost Sure They Remember Being Hired to Sell Twitter Stock

This lawsuit against TwitterInc. is pretty hard to follow but don't let that keep you from enjoying it. It seems that two investment advisers, Continental Advisors SA and Precedo Capital Group Inc., sued Twitter because, let me see if I can get this right, a company called GSV Capital* asked Continental and Precedo to sell some Twitter shares, and Continental and Precedo were pretty pretty sure that Twitter was really running the sale, though they never talked to anyone at Twitter, it just felt that way, you know, just sort of a Twittery vibe about the whole thing, blue birdies in the air and so forth. And so Continental and Precedo went around presenting to a bunch of investors and building a book of some $260 million in indications of interest, and then Twitter decided not to actually let them sell the shares, and so Continental and Precedo were out a lot of bother and client goodwill with nothing to show for it. And now they're suing, not GSV, which recruited them to sell the shares, but Twitter, which just sat there all smug letting them do their roadshow:

That's a sure sign of a client relationship, when you keep calling them and never hear back. No wonder Continental thought they were working for Twitter.