Lyft’s fast-slumping stock leads to lawsuits

Downtrend: Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in New York, US. For Lyft Inc, whose stock has tumbled sharply since its March 28 launch, it took less than three weeks for disillusioned shareholders to sue the company over claims they were taken for a ride. — Reuters

SAN FRANCISCO: Snap Inc’s IPO honeymoon in 2017 gave way to investor lawsuits within 10 weeks. With Blue Apron Holdings it was just seven weeks.

For Lyft Inc, whose stock has tumbled sharply since its March 28 launch, it took less than three weeks for disillusioned shareholders to sue the company over claims they were taken for a ride.