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LYFT.US
id: 517, Created by Stan Vick Chase, Scout
In re Lyft, Inc. Securities Litigation
Pending settlement
28 March 2019
Class period Start17 May 2019
Class period End22 May 2023
Claim deadlineLyft Inc (LYFT) agreed to pay up to $25 million to settle a securities class action lawsuit to avoid further litigation.
The Complaint alleged that the Company and its Leaders made false and misleading statements in Lyft’s registration statement and prospectus issued in connection with the company’s March 2019 IPO.
The alleged misstatements involve Lyft’s claims about its domestic market share, failure to disclose issues surrounding the safety of the company’s bike-sharing program, and labor issues.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Case number
19-CV-02690
Filing date
17 May 2019
Lead plaintiff
Rick Keiner
Attorney
Block & Leviton LLP (Boston, MA), RM Law, P.C. (Berwyn, PA)
Defendants
Logan Green, John Zimmer, Mary Anges
Court
Northern District of California
Judge
Hon. Haywood S Gilliam, Jr.
Administrator
A.B. Data Ltd
Court hearing date
22 June 2023
Exclusion deadline
13 April 2023
Objection deadline
30 March 2023
Hearing deadline
30 March 2023
+$25,000,000
Total Settlement Amount