A Lyft driver lounge called the Hub in San Francisco. Photo: Jason Doiy/ALM SEC Slaps Lyft With $10M Fine for Undisclosed Stock Deal Just Before IPO
According to news reports, the seller of the $424 million in shares was Carl Icahn, and the buyer was George Soros.
September 18, 2023 at 03:29 PM
3 minute read
Corporate Governance
Ride-hailing service Lyft Inc. will pay $10 million for failing to disclose a former director helped a shareholder sell $424 million in stock in the company weeks prior to its initial public offering in 2019, the Securities and Exchange Commission said Monday.
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