NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased common stock of Lyft, Inc. (“Lyft” or the “Company”) (NASDAQGS: LYFT) pursuant or traceable to the Company's Offering and Registration Statement issued in relation to the March 28, 2019 IPO.

You are hereby notified that a securities action has been commenced in the Superior Court of the State of California. If you purchased Lyft common stock pursuant to the initial public offering, your rights may be affected by this action.

The complaint alleges that the Registration Statement's representations were materially inaccurate, misleading, and/or incomplete because they failed to disclose that: (1) more than 1,000 of the bicycles in Lyft's rideshare program suffered from safety issues that would lead to their recall; and (2) Lyft's claimed ridesharing market position was overstated. Accordingly, the price of the Company' s shares was artificially and materially inflated at the time of the Offering.

If you suffered a loss in Lyft and would like additional information, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit https://www.zlk.com/pslra-1/lyft-inc-loss-form.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com