BOSTON, May 17, 2019 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockesq.com), a Boston-based securities litigation firm representing investors nationwide, has filed a securities fraud class action against Lyft, Inc. (NASDAQ: LYFT), certain of its officers and directors, and underwriters of its recent initial public offering, alleging violations of the Securities Act of 1933.

The lawsuit alleges that Defendants made false and misleading statements in Lyft’s registration statement and prospectus issued in connection with the company’s March 29, 2019 initial public offering. 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.

If you purchased Lyft shares pursuant and/or traceable to Lyft’s registration statement and prospectus and want to become involved in the litigation or have questions about your legal rights, you are encouraged to contact Dan DeMaria at (617) 398-5660, by email at [email protected], or by visiting https://shareholder.law/lyft. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to serve as a lead plaintiff, you must move the Court no later than July 16, 2019.

The complaint in this case was filed in the United States District Court, Northern District of California, and is captioned Matias Malig, as Trustee for the Malig Family Trust v. Lyft, Inc. et al., No. 3:19-cv-02690. A judge has not yet been assigned to the case.

Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation’s largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.

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CONTACT:

BLOCK & LEVITON LLP
Dan DeMaria
(617) 398-5660 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
[email protected]