Lyft is sued by investors over IPO
(Reuters) – Lyft is sued by investors over its initial public offering – court filing
Lawsuit also names Lyft executives and bank underwriters as defendants.
Lawsuit claims Lyft misled investors about its ridesharing position, bicycle safety issues, and labor matters.
Lawsuit filed in San Francisco federal court claims Lyft’s false and misleading statements inflated company’s share price, and that investors lost money when the price fell.