LOS ANGELES, July 16, 2019 (GLOBE NEWSWIRE) -- 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 firstname.lastname@example.org.
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.
Join 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 litigation.
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