Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
An error in a recent Lyft earnings release about a key profit metric has prompted a shareholder lawsuit. The mistake disclosed at 4:05 p.m. EST triggered a buying frenzy that caused Lyft's share price to rise 67% in a half-hour https://t.co/plvQGU65QB https://t.co/Q5UwyWNfqC
A Lyft shareholder filed a proposed class-action securities suit over the typo in a Feb. 13 company press release that caused the stock to briefly surge 67% in after-hours trading. https://t.co/hci8XBCw5N
Lyft investors sue over earnings ‘fraud’ typo that sparked wild buying frenzy https://t.co/qmI9j8laGl https://t.co/tlleq4jKKr
Lyft has been sued by shareholders for securities fraud following a mistake in a recent earnings release concerning a key profit metric. This error, disclosed at 4:05 p.m. EST, led to a significant fluctuation in the company's stock price, initially causing it to surge and then drop. The typo in a February 13 company press release triggered a buying frenzy, leading to a brief 67% increase in Lyft's share price in after-hours trading. A proposed class-action securities lawsuit has been filed over this incident.
