Lyft Inc. shareholders received final approval of a $25 million settlement to settle a lawsuit alleging the ride-hailing company failed to disclose allegations of sexual assault against drivers prior to its IPO in 2019.
Judge Haywood S. Gilliam Jr. of the US District Court for the Northern District of California granted final approval in an order Monday. Gilliam said the “recovery was significant” despite complaints from some investors that the amount was too low.
The deal settles a lawsuit filed in May 2019, two months after Lyft went public. Lyft officials did not immediately respond to a request for comment.
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