Securities,
Corporate
Dec. 23, 2019
Disappointment, litigation follow top IPOs in 2019
After multibillion-dollar valuations, Uber and Lyft were hit with a flurry of lawsuits alleging they misled investors after massive losses.
Wall Street welcomed companies this year that had long postponed their entries into the public market in favor of growth. For most top offerings, only disappointment -- and litigation -- followed.
Investors poured heaps of money into the initial public offerings of technology unicorns Uber Technologies Inc. and Lyft Inc., prompting multibillion-dollar valuations.
Lyft raised $2.3 billion in its IPO...
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