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LYFT.US

id: 517

LYFT IPO $25M Shareholder Settlement

The settlement funds have been distributed to claimants.

N.D. California

Court

4:19-cv-02690

Case number

03/28/2019

Class period Start

08/19/2019

Class period End

05/22/2023

Claim deadline

Lyft Inc (LYFT) agreed to pay up to $25 million to settle a securities class action lawsuit to avoid further litigation.

For question please contact George Scott - [email protected]

The Complaint alleged that the Company and its Leaders made false and misleading statements in Lyft’s registration statement and prospectus issued in connection with the company’s March 2019 IPO. 

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.

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.77

Filing date

05/17/2019

Plaintiffs

Rick Keiner

Attorneys

Block & Leviton LLP (Boston, MA), RM Law, P.C. (Berwyn, PA)

Defendants

Logan Green, John Zimmer, Mary Anges

Judge

Hon. Haywood S Gilliam, Jr.

Administrator

A.B. Data Ltd

Court hearing date

06/22/2023

Exclusion deadline

04/13/2023

Objection deadline

03/30/2023

Hearing deadline

03/30/2023

Trades matching type

FIFO

Disbursement date

11/14/2024

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