Uber And Lyft Agree To Worker Benefits, Settle State Lawsuit
Portfolio Pulse from Shivani Kumaresan
Uber and Lyft have reached a settlement with Massachusetts Attorney General Andrea Joy Campbell to provide a minimum pay standard of $32.50 per hour and additional benefits for drivers. The companies will pay $175 million to settle wage and hour law violations, with most funds going to current and former drivers. This agreement concludes a multi-year litigation and prevents changes to state employment law through a 2024 ballot initiative.
June 28, 2024 | 11:44 am
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Lyft has agreed to a $27 million settlement to resolve wage and hour law violations in Massachusetts, providing drivers with a minimum pay of $32.50 per hour and additional benefits.
The settlement resolves a significant legal issue and provides clarity on driver compensation, which could positively impact investor sentiment and Lyft's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Uber has agreed to a $148 million settlement to resolve wage and hour law violations in Massachusetts, providing drivers with a minimum pay of $32.50 per hour and additional benefits.
The settlement resolves a significant legal issue and provides clarity on driver compensation, which could positively impact investor sentiment and Uber's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100