(Bloomberg) -- A Lyft Inc. investor is suing the ride-sharing company's officers and directors for failing to disclose before its IPO that it was facing a flood of complaints from women who accuse its drivers of sexual assault.
Luis Toscano says in a class-action complaint filed this week in San Francisco that the company should have informed investors before its March initial public offering that it was facing a “multitude of complaints” over alleged sexual assaults and similar misconduct by drivers.
The San Francisco-based company has been hit in recent months by more than a dozen lawsuits by women claiming they were sexually assaulted or harassed by Lyft drivers. Lyft has said it has made it a priority to invest in features giving riders more control, including in-app photos of the driver and vehicle, real-time ride tracking and digital receipts.
Read More: Lyft's ‘Woke' Image Collides With Rash of Sex Assault Suits
To contact the reporter on this story: Robert Burnson in San Francisco at rburnson@bloomberg.net
To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Peter Blumberg
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
