The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Proposed Settlement, Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses, and Settlement Hearing (the “Notice”), which you can access by clicking here. Because this website is just a summary, you should review the Notice for additional details.
The purpose of the website is to inform you that a $25 million settlement has been reached for investors in Lyft, Inc. stock between March 28, 2019 and August 19, 2019, inclusive (the “Class Period”), in connection with Lyft’s IPO (the “Class”) and to advise you what actions you must take in order to receive a payment from the Settlement Fund, exclude yourself from the Class, or object to the Settlement. If you are a member of the Class, your legal rights will be affected whether you act or not.
You may have previously received a notice informing you of the Court’s decision to certify a Class (the “Initial Notice”). At the time you received the Initial Notice, the parties had not reached a settlement. The parties have now agreed to a proposed Settlement and this notice concerns your rights, obligations, and options regarding the proposed Settlement.
On August 20, 2021, the Court certified the Class, consisting of:
All persons and entities who, during the period from March 28, 2019, through August 19, 2019, inclusive (the “Class Period”), purchased or otherwise acquired the common stock of Lyft issued and traceable to the IPO Registration Statement.
If you have questions, you may call the Lyft, Inc Securities Settlement Helpline at (877) 888-9031 or email info@LyftIPOLitigation.com.
PLEASE DO NOT TELEPHONE THE COURT OR THE COURT CLERK’S OFFICE
TO INQUIRE ABOUT THIS SETTLEMENT OR THE CLAIM PROCESS.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
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| Submit a claim.
Submit a Claim Form postmarked
no later than May 22, 2023. |
This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Class Member and you remain in the Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Claims (defined in the Notice) that you have against Defendants and the other Released Defendant Parties (defined in the Notice), so it is in your interest to submit a Claim Form.
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| Exclude yourself.
Exclude yourself from the Class by submitting a written exclusion so that it is received by no later than
April 13, 2023. |
If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Released Defendant Parties concerning the Released Claims. If you have already requested exclusion from the Class (i.e., after receiving the initial Notice of Pendency of Class Action), you need not do so again.
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| Object.
Object to the Settlement by submitting
a written objection so that it is received no later than March 30, 2023. |
If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Class Member and do not exclude yourself from the Class. Please note that the Court can only approve or deny the settlement and cannot change the terms of the settlement.
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| Appear at a hearing.
Attend a hearing on June 22, 2023,
and file a Notice of Intention to Appear
so that it is received no later than
March 30, 2023. |
Filing a written objection and notice of intention to appear by March 30, 2023 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.
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| Do nothing. |
If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |