Lyft sued after typo caused stock price to jump 60%
Image Credit: euronews
A shareholder has initiated a class action lawsuit against ride-hailing company Lyft. Yuan Chen, the shareholder, claims to have suffered losses due to misleading financial statements from Lyft. The company mistakenly added an extra zero to a key figure its report released last month, causing the stock price to surge. The suit targets the company's top executives for their role in the dissemination of incorrect financial projections. In class action lawsuit, a group of individuals/shareholders is represented by an individual.