Lyft Earnings Gaffe Nets Investor Suit for 46-Minute ‘Fraud’ (1)

Lyft Inc. may want to move on from last month’s earnings gaffe, but a shareholder is making a federal case out of it.

An investor filed a proposed class-action securities suit over the typo in a Feb. 13 company press release that caused the stock to briefly surge 67% in after-hours trading.

Read More: A ‘Clerical Error’ in Lyft Outlook Triggered 67% Jump

The complaint filed late Tuesday in San Francisco federal court alleges the ride-share company defrauded investors when it mistakenly said it expected adjusted earnings margins, calculated as a percentage of bookings, to expand by 500 basis points ...