Twitter Sued For $124 Million Over Private Stock Sale

Twitter is heading for its IPO sometime in the coming months, but there may be obstacles for the company as it seeks to get onto the public market. Reuters reported today that the social networking company has been hit with a $124 million lawsuit from two companies alleging that they were lured into a deal that would allow them to sell shares in the company.

The firms, Precedo Capital Group Inc and Continental Advisors SA, say that they were approached by an approved buyer of Twitter sales to create a...