Lyft Investors Win Approval of $25 Million IPO Disclosure Deal

Lyft Inc. shareholders won final approval of a $25 million settlement resolving a lawsuit that accused the ride-hailing company of failing to disclose sexual assault allegations against drivers before its 2019 initial public offering.

Judge Haywood S. Gilliam Jr. in the US District Court for the Northern District of California gave final approval in a Monday order. Gilliam said the “recovery is significant,” despite some investors’ complaint that the amount was too low.

The deal resolves a lawsuit filed in May 2019, two months after Lyft’s IPO. Representatives for Lyft didn’t immediately respond to a request for comment.

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