RM LAW, P.C. announces an investigation on behalf of Lyft, Inc. (“Lyft” or the “Company”) (NASDAQ: LYFT) investors who purchased Lyft pursuant or traceable to the Company’s Offering and Registration Statement issued in relation to the March 28, 2019 Initial Public Offering (”IPO”).
If you purchased shares of Lyft and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On March 28, 2019, Lyft conducted an IPO, offering 32.5 million shares to the public priced at $72.00 per share. Subsequent to the IPO, news emerged that more than 1,000 of the bicycles in Lyft’s rideshare program suffered from safety issues that would lead to their recall, and that Lyft’s claimed ridesharing market position was overstated.
Since the IPO, Lyft’s stock price has fallen as low as $56.11 per share, representing a decline of roughly 22% from the $72.00 offering price.