Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Lyft, Inc. (NASDAQ: LYFT) pursuant and/or traceable to the Company’s March 2019 initial public offering (the “IPO” or the “Offering”) of the important July 16, 2019 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Lyft investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
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 July 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://www.rosenlegal.com/cases-register-1558.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.