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A settlement has finally been reached in the six-year lawsuit California waged against the rideshare giant Lyft. The company will pay $272.5 million to settle claims that it committed wage theft against its drivers.
The California Labor Commissioner's Office announced Thursday that Lyft will pay $272.5 million to settle a wage and worker misclassification lawsuit.
Interest is capped at $12.4M, with no prospective operational commitments. Q3 guidance was unchanged Sept. 30, 2026; results are expected in November.
Lyft trades at $15.06 per share and has stayed right on track with the overall market, gaining 19% over the last six months. At the same time, the S&P 500 has returned 21.1%.
Find the latest Uber Technologies, Inc. (UBER) stock quote, history, news and other vital information to help you with your stock trading and investing.
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