Article: Uber underwriters worried about the IPO deployed unusual ‘naked short’ tactic to support the stock

Article - Media

Uber underwriters worried about the IPO deployed unusual ‘naked short’ tactic to support the stock

Leslie Picker, Hugh Son

CNBC, 14 May 2019

Uber’s underwriters, led by Morgan Stanley, were so worried the company’s initial public offering had run into trouble, they deployed a nuclear option ahead of the deal last week, so they could provide extra support for the stock, four people with knowledge of the move said.

Read full article.

Article: Lyft is threatening litigation against Morgan Stanley, accusing the firm of supporting short-selling

Article - Media

Lyft is threatening litigation against Morgan Stanley, accusing the firm of supporting short-selling

Deirdre Bosa, Leslie Picker

CNBC, 6 April 2019

Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements.

In a letter sent to Morgan Stanley on April 2, Lyft questioned the firm about its alleged role in helping market certain products that would help pre-IPO investors bet against the stock.

Read full article.