Reported 5 days ago
Engine Capital has acquired a 1% stake in Lyft and is advocating for a strategic review of the ride-hailing company, citing concerns about its stock performance, governance, and capital allocation. The activist investor is pushing for improvements, including the elimination of Lyft's dual-class share structure, and has proposed candidates for the board. Amid growing competition from autonomous vehicles and disappointing performance forecasts, Lyft's shares have seen significant declines over the past year.
Source: YAHOO