Uber, Lyft Securities Deals Within Days Is Likely a Coincidence

Uber Technologies Inc. and Lyft Inc. reached settlements with investors on IPO and safety allegations just days apart in what attorneys say was probably a coincidence, but ahead of earnings calls set for August.

Uber investors requested preliminary approval for their $200 million proposed settlement July 19, and Lyft investors who sued the company’s leadership asked for a first court nod July 23 for internal reforms. Both cases are pending in the US District Court for the Northern District of California.

The Uber investors alleged that, at the time of its 2019 initial public offering, Uber failed to disclose information ...