Federal Judge Approves $25M Class Settlement With Lyft In Public Offerings Case

(August 18, 2023, 11:05 AM EDT) -- OAKLAND, Calif. — A federal judge in California approved a motion for final approval of a $25 million settlement of a class action brought against ride-sharing company Lyft Inc. and some of its executives by investors who claimed that Lyft had misrepresented a number of issues facing it in its initial public offering, ruling that the settlement meets the requirements for approval, over the opposition of some members of the class who suggested that the settlement came as the result of a “reverse auction.”...