LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24LYFT&src=ctag” target=”_blank”gt;$LYFTlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against Lyft, Inc.
(“Lyft” or “the Company”) (NASDAQ: LYFT)
for violations of the federal securities laws.
Investors who purchased the Company’s shares pursuant to and/or
traceable to the Company’s Initial Public Offering in March 2019 (the
“IPO”) are encouraged to contact the firm before July 16, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Rina Restaino, of the
Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at [email protected].
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. Lyft’s claimed position in the ridesharing
market was overstated. More than 1,000 of the Company’s ridesharing
bicycles suffered from safety deficiencies requiring a recall to fix. At
the same time, the Company’s drivers were becoming disincentivized from
driving for Lyft. The Company failed to warn investors that this labor
disruption could threaten its operations. Based on these facts, the
Company’s public statements were false and materially misleading
throughout the IPO period. When the market learned the truth about Lyft,
investors suffered damages.
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.