Lyft Agrees to Reforms to Settle Investor Suit Over Assaults (1)

Lyft Inc. would undertake several internal reforms to address and prevent physical and sexual assaults by drivers, and driver safety problems, under the terms of a proposed derivative suit settlement.

The ride-sharing company would maintain the reforms for at least three years as set out in the agreement, which was presented to the US District Court for the Northern District of California July 23 for preliminary approval. The issues relate to statements Lyft made, and alleged nondisclosures, before its 2019 initial public offering.

The deal would settle the investors’ suit against Lyft’s leadership on behalf of the company. The parties ...