Lyft Slams Class Cert. Bid In IPO Suit

Law360 (January 20, 2021, 8:56 PM EST) -- Lyft told a California federal judge Tuesday investors in the company didn't all know the same details about the ride-hailing giant when it held its 2019 initial public offering, arguing that a proposed investor class in a consolidated securities suit shouldn't have their class certification request granted.

In a Tuesday opposition brief, Lyft and 10 of its former and current executives and directors told U.S. District Judge Haywood S. Gilliam Jr. that at least some of its IPO investors knew about two particular sets of challenges the company was facing when those investors bought their Lyft shares.

In the proposed class...

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