Investigation announced for Long-Term Investors in shares of Lyft, Inc. (NASDAQ: LYFT)

An investigation on behalf of current long-term investors in shares of Lyft, Inc. (NASDAQ: LYFT) was announced over potential breaches of fiduciary duties by certain officers and directors at Lyft, Inc..

Investors who purchased shares of Lyft, Inc. (NASDAQ: LYFT) and currently hold any of those NASDAQ: LYFT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Lyft, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

On May 17, 2019, a lawsuit was filed against Lyft, Inc. over alleged violations of Federal Securities Laws by Lyft, Inc. in connection with certain allegedly false and misleading statements made in connection with the company's March 29, 2019 initial public offering ("IPO").

If you purchased shares of Lyft, Inc. (NASDAQ: LYFT), you have certain options and for certain investors are short and strict deadlines running. Deadline: July 16, 2019. NASDAQ: LYFT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Francisco, CA based Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. Lyft, Inc. reported that its annual Total Revenue rose from over $1.05 billion in 2017 to over $2.15 billion in 2018 and that its Net Loss increased from $688.3 million in 2017 to $911.33 million in 2018.

Lyft, Inc. went public in late March 2019 and shares sold at $72.00 per share, valuing the company at $20.5 billion.

Since then shares of Lyft, Inc. (NASDAQ: LYFT) declined to $55.56 per share during April 15, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Lyft, Inc. (NASDAQ: LYFT) common shares, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants made false and misleading statements in Lyft's registration statement and prospectus issued in connection with the company's March 29, 2019 initial public offering. The alleged misstatements involve Lyft's claims about its domestic market share, failure to disclose issues surrounding the safety of the company's bike sharing program, and labor issues.

Those who purchased shares of Lyft, Inc. (NASDAQ: LYFT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.