Civil Litigation
Sep. 19, 2023
Lift agrees to pay $10M fine to SEC over sale of pre-IPO shares
The case involved a pre-IPO sale of approximately $424 million in private shares between Carl Icahn and George Soros.
Lyft Inc. agreed to pay a $10 million civil penalty to end SEC charges that it failed to disclose the role of a board director in a pre-IPO sale of approximately $424 million in private shares between Carl Icahn and George Soros.
“The federal securities laws required Lyft to disclose that a director profited from a transaction in which Lyft itself was a participant,” said Sheldon L. Pollock, associate regional director of the SEC’s New Yor...
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