Lyft Faces Class Two Action Lawsuits From Investors
Lyft’s initial public offering headache just got worse.
On Wednesday, the company is now looking at two separate lawsuits from its investors.
The lawsuits come after Lyft's stock sunk lower than expected after its IPO.
Gizmodo reports the stock had an IPO price of $72.
Lyft stock now sits at $58.36 as of Thursday.
According to Bloomberg, investors allege in their suits that Lyft’s claim to 39 percent market share was maybe not quite in line with reality.
A spokesperson for Lyft declined to comment on the lawsuits.