Lyft has reached a $25 million settlement to resolve shareholder claims that the ride-hailing company concealed safety problems, including alleged sexual assaults by drivers, before its 2019 initial public offering.
The preliminary settlement was filed on Thursday with the federal court in Oakland, California, and requires approval by US District Judge Haywood Gilliam Jr.
Lyft denied wrongdoing in agreeing to settle.
The San Francisco-based company became the first ride-hailing business to go public when it raised $2.34 billion in its March 2019 initial public offering (IPO).
Investors who bought shares in the IPO sued less than two months later, accusing Lyft of concealing safety problems from its registration statement in a bid to appear more socially responsible than its main rival, Uber.
Lyft's share price fell below the $72 IPO price less than two weeks after trading began on March 29, 2019, and never recovered.
'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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Age: 25
Town: Al Diqdaqah – Ras Al Khaimah
Education: Bachelors degree in mechanical engineering
Favourite colour: White
Favourite place in the UAE: Downtown Dubai
Favourite book: A Life in Administration by Ghazi Al Gosaibi.
First owned baking book: How to Be a Domestic Goddess by Nigella Lawson.
