Lyft has been sued by investors in IPO

FILE PHOTO: The Lyft logo is seen on a parked Lyft Scooter in Washington, USA, March 29, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) – Lyft has been sued by investors on the initial public offering – court

Lawsuit also names Lyft managers and bank-insurers as defendants.

Lawsuit claims Lyft investors misled about the ridesharing position, with the bike to the safety and labour affairs.

Lawsuit filed in San Francisco federal court, claims Lyft false and misleading statements inflated stock price, and that investors lost money when the price fell.

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