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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lyft Inc | NASDAQ:LYFT | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.52 | 3.09% | 17.36 | 17.18 | 17.52 | 17.73 | 17.12 | 17.34 | 16,009,658 | 05:00:01 |
From May 2019 to May 2024
By Preetika Rana
Lyft Inc. said Thursday it will suspend operations in California as of midnight, to avoid violating an order that requires it to immediately reclassify its drivers as employees.
California sued and Lyft and Uber Technologies Inc. in May, alleging they were violating the law, which requires companies to treat workers as employees rather than independent contractors if they are controlled by their employer and contribute to its usual course of business, among other things. As employees, drivers would be eligible for sick days and other benefits, issues that have become more pressing during the coronavirus pandemic.
Uber and Lyft, both based in San Francisco, have argued that they are technology platforms connecting riders with drivers, not transportation companies, so the drivers aren't part of their usual course of business.
A state judge agreed with California last week and gave the companies until Friday to reclassify their drivers as employees.
Write to Preetika Rana at preetika.rana@wsj.com
(END) Dow Jones Newswires
August 20, 2020 13:33 ET (17:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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