Lyft is sued by investors over IPO

FILE PHOTO: The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File Photo

(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.

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