{"id":52505,"date":"2026-10-03T16:55:19","date_gmt":"2026-10-03T16:55:19","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=52505"},"modified":"2026-10-03T16:55:19","modified_gmt":"2026-10-03T16:55:19","slug":"lyft-handing-out-272500000-after-ride-hailing-giant-settles-over-alleged-misclassification-of-california-drivers","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=52505","title":{"rendered":"Lyft Handing Out $272,500,000 After Ride-Hailing Giant Settles Over Alleged Misclassification of California Drivers"},"content":{"rendered":"

\"\"<\/p>\n

Lyft has agreed to hand hundreds of millions of dollars to California drivers who say the company treated them as contractors instead of employees.<\/p>\n

The settlement<\/a> totals $272.5 million, including fees and costs, and resolves claims from the state attorney general, city attorneys, the labor commissioner and private plaintiffs covering April 5th, 2016, through December 15th, 2020.<\/p>\n

At least $237,075,000 is reserved<\/a> for drivers based on hours and miles driven, with payments allowed over four years plus up to $12.4 million in interest. Lyft booked a $210 million accrual in the fourth quarter of 2025.<\/p>\n

\u201cThe lawsuit followed the introduction of the \u2018ABC test:\u2019 the groundbreaking legal test used to analyze the misclassification of workers, which was first adopted by the California Supreme Court in 2018 in Dynamex Operations West, Inc. v. Superior Court and then codified into law under AB5. In the midst of litigation, Proposition 22 altered how the ABC test is applied to certain app-based drivers. Despite several appeals and changes in the law, the Attorney General and his partners remained resilient, winning every legal challenge in court and remaining steadfast in their demands for drivers\u2019 deserved wages and protections.\u201d<\/em><\/p>\n

Says California Labor Commissioner Lilia Garc\u00eda-Brower,<\/p>\n

\u201cThis settlement is about the workers who came forward and spoke up. Their voices made this outcome possible.\u201d<\/em><\/p>\n

In an SEC filing dated September 30th, Lyft says the deal is not an admission of liability and that resolving the matter now lets it avoid the costs and distraction of drawn-out litigation and keep management focused on its business goals. The attorney general announced the agreement today. The deal is still subject to court approval.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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The post Lyft Handing Out $272,500,000 After Ride-Hailing Giant Settles Over Alleged Misclassification of California Drivers<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Lyft has agreed to hand hundreds of millions of dollars to California drivers who say the company treated them as contractors instead of employees. The settlement totals $272.5 million, including fees and costs, and resolves claims from the state attorney general, city attorneys, the labor commissioner and private plaintiffs covering April 5th, 2016, through December […]<\/p>\n","protected":false},"author":1,"featured_media":52506,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-52505","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nLyft Handing Out $272,500,000 After Ride-Hailing Giant Settles Over Alleged Misclassification of California Drivers - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=52505\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lyft Handing Out $272,500,000 After Ride-Hailing Giant Settles Over Alleged Misclassification of California Drivers - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Lyft has agreed to hand hundreds of millions of dollars to California drivers who say the company treated them as contractors instead of employees. 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