In re Lyft Inc. Securities Litigation
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 IN RE LYFT INC. SECURITIES Case No. 19-cv-02690-HSG
LITIGATION
ORDER GRANTING MOTION FOR
PRELIMINARY APPROVAL
9 Re: Dkt. No. 249 10
12 Before the Court is the motion for preliminary approval of class action settlement. See Dkt. No. 249 (“Mot.”). The Court held hearings on the motion on September 15 and November 17, 2022. See Dkt. Nos. 268, 286. The parties submitted several revisions to the settlement agreement and proposed class notice. See Dkt. Nos. 276, 291, 293. The Court GRANTS the motion. I. BACKGROUND A. Factual Allegations and Procedural Background Plaintiffs purchased shares of Defendant Lyft Inc.’s common stock when Lyft went public through an Initial Public Offering (“IPO”) on March 28, 2019. See Dkt. No. 252 (“SAC”) ¶¶ 3, 5, 31. Plaintiffs bring this securities class action against Lyft and certain of its officers and directors regarding representations in Lyft’s IPO Registration Statement. See id. ¶¶ 2, 32–45. …