Deals
Lyft's Fast-Slumping Stock Quickly Leads to Investor Lawsuits
- Post-IPO lawsuits are on the rise since 2008 financial crisis
- Ride-hailing firm’s shares have plunged 19 percent in 3 weeks
The Lyft Inc. initial public offering (IPO) at the company's new service center in Los Angeles.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Snap Inc.’s IPO honeymoon in 2017 gave way to investor lawsuits within 10 weeks. With Blue Apron Holdings it was just seven weeks.
For Lyft Inc., whose stock has tumbled sharply since its March 28 launch, it took less than three weeks for disillusioned shareholders to sue the company over claims they were taken for a ride.