Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

Uber, Lyft Drivers File Antitrust Case Against Ride Hailing Companies

  • A group of Uber Technologies, Inc (NYSE:UBER) and Lyft, Inc (NASDAQ:LYFT) drivers slapped an antitrust lawsuit on the companies for unfairly controlling passenger fares.
  • The drivers claimed that lower consumer fares would provide them with "the most competitive compensation."
  • The suit adds that companies hurt driver earnings by charging higher fares to the customers.
  • The lawsuit sought class-action status in San Francisco Superior Court for alleged violations of California antitrust law and state law prohibiting unfair business practices.
  • Uber has denied the allegations.
  • Uber and Lyft are amid multiple legal battles over classifying their drivers as gig workers instead of employees, thereby limiting their benefits.
  • Uber recently resumed its ride-sharing services to capitalize on the pandemic recovery as it battled a driver shortage.
  • Price Action: UBER shares traded lower by 2.44% at $21.23 premarket on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.