LOS ANGELES, CA / ACCESSWIRE / March 28, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Lyft, Inc. ("Lyft" or "the Company") (NASDAQ:LYFT) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 13, 2024 at 4:05 p.m. ET and February 13, 2024 at 4:51 p.m. ET (the "Class Period"), are encouraged to contact the firm before May 6, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Lyft issued a press release detailing its fourth quarter operating results on February 13, 2024. The Company stated it expected "adjusted EBITDA margin expansion … of approximately 500 basis points year-over-year." In fact, the Company expected a 50 basis point margin expansion. The Company corrected its error 17 minutes into its earnings call, causing shares to fall sharply. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Lyft, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm
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