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.
Block & Leviton has been appointed Lead Counsel to the Class. The consolidated amended class action complaint was filed on April 16, 2020 and a Motion to Dismiss will be fully briefed and heard by the Court in July 2020.