Lyft has reached a $25 million settlement to resolve shareholder claims that the ride-hailing company concealed safety problems, including alleged sexual assaults by drivers, before its 2019 initial public offering.
The preliminary settlement was filed on Thursday with the federal court in Oakland, California, and requires approval by US District Judge Haywood Gilliam Jr.
Lyft denied wrongdoing in agreeing to settle.
The San Francisco-based company became the first ride-hailing business to go public when it raised $2.34 billion in its March 2019 initial public offering (IPO).
Investors who bought shares in the IPO sued less than two months later, accusing Lyft of concealing safety problems from its registration statement in a bid to appear more socially responsible than its main rival, Uber.
Lyft's share price fell below the $72 IPO price less than two weeks after trading began on March 29, 2019, and never recovered.
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Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Zayed Sustainability Prize
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Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
