Stock Market News
Lyft reaches $25 million settlement of claims it hid safety problems
2022.06.16 23:21
An empty Lyft pick-up area is shown as rideshare drivers hold a rally as part of a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights”, in Los Angeles, California, U.
(Reuters) – Lyft Inc (NASDAQ:LYFT) has reached a $25 million settlement to resolve shareholder claims that the ride-hailing company concealed safety problems, including alleged sexual assaults by drivers, prior to its 2019 initial public offering.
The preliminary settlement was filed on Thursday with the federal court in Oakland, California, and requires approval by U.S. District Judge Haywood Gilliam Jr.
