Technology,
Civil Litigation
Jun. 20, 2022
Lyft OKs $25M deal to end investors’ suit over pre-IPO sex assault claims
A class of investors alleged they bought Lyft shares at its starting price of $72, which almost immediately declined, reaching less than $54 a share when the plaintiffs filed suit around a month and a half later.
Lyft Inc. agreed to a $25 million settlement to resolve claims the company hid sexual assault allegations against drivers before its initial public offering. The company did not acknowledge any wrongdoing.
A class of investors alleged they bought Lyft shares at its starting price of $72, which almost immediately declined, reaching less than $54 a share when the plaintiffs filed suit around a month and a half later. The parties asked U.S. M...
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