In re Lyft Inc. Securities Litigation

I. BACKGROUND

17 On April 16, 2021, Plaintiff filed the operative consolidated complaint against Defendant 18 Lyft Inc. (“Lyft”), Logan Green, Co-Founder, Chief Executive Officer, and Director on Lyft’s 19 board of directors (the “Board”), John Zimmer, Co-Founder, President and Vice Chairman of the 20 Board, Brian Roberts, Chief Financial Officer, Prashant (Sean) Aggarwal, Chairman of the Board, 21 Board Members Ben Horowitz, Valerie Jarrett, David Lawee, Hiroshi Mikitani, Ann Miura-Ko, 22 and Mary Agnes (Maggie) Wilderotter (“Individual Defendants,” and collectively with Lyft, 23 “Defendants”). See Dkt. No. 74 (“CCAC”). 24 Lyft is a rideshare company that “sought to revolutionize transportation by launching its 25 peer-to-peer marketplace for on-demand ridesharing.” CCAC at ¶ 4. Lyft registered its issuance 26 27 1 On October 14, 2020, the parties stipulated to the voluntary dismissal of Former Board Member of common stock “under the Securities Act of 1933, as amended, pursuant to Lyft’s registration statement on Form S-1 (File No. 333-229996) declared effective on March 28, 2019.” Id. at ¶ 3. Lyft offered 32.5 million shares to the public through an initial…