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NEW YORK, June 03, 2019 (GLOBE NEWSWIRE) — Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Lyft, Inc. (NASDAQ: LYFT) pursuant and/or traceable to the Company’s March 2019 initial public offering (the “IPO” or the “Offering”). The lawsuit seeks to recover damages for Lyft investors under the federal securities laws.
To join the Lyft class action, go to http://pawarlawgroup.com/cases/lyft-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.
According to the lawsuit, Lyft’s Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft’s claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft’s rideshare program suffered from safety issues that would lead to their recall; (3) Lyft’s drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 16, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/lyft-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at [email protected].
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
[email protected]
