Court Approves $25 million Lyft Settlement

Court finds recovery significant when weighed against the litigation risks in the case

With the Court finding the “recovery significant, especially when weighed against the litigation risks in the case,” Block & Leviton recovered $25 million on behalf ofinvestors who lost money when Lyft went public in 2019. After four years of hard-fought litigation, and in the face of objections from another set of lawyers, the court approved a $25 million settlement, finding that the plaintiff had “ensured a favorable recovery for the class.” The court also noted that “Block & Leviton LLP are highly experienced lawyers with expertise in securities class actions.”

A copy of the Court's decision is available.

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August 23, 2023

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