Lyft, Inc.

In re Lyft, Inc. Sec. Litig., No. 3:19-cv-02690 (N.D. Cal.)

Stock ticker:
LYFT

Block & Leviton LLP (www.blockesq.com), a Boston-based securities litigation firm representing investors nationwide, has filed a securities fraud class action against Lyft, Inc. (NASDAQ: LYFT), certain of its officers and directors, and underwriters of its recent initial public offering, alleging violations of the Securities Act of 1933.

The lawsuit alleges that Defendants made false and misleading statements in Lyft’s registration statement and prospectus issued in connection with the company’s March 29, 2019 initial public offering. 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.

The Class was certified on August 20, 2021, and Block & Leviton was appointed as Class Counsel. Information for class members is available at https://www.LyftIPOLitigation.com/.

In June 2022, the parties filed a Stipulation of Settlement with the Court, and Plaintiff moved for preliminary approval of the settlement. If the Court grants preliminary approval, additional information will be provided by the Settlement Administrator. Copies of the Stipulation, Proposed Notice, and Motion for Preliminary Approval are available on this web page.

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