LYFT May 2024 20.500 put
| Previous close | 3.4000 |
| Open | 3.4000 |
| Bid | 4.3500 |
| Ask | 4.4500 |
| Strike | 20.50 |
| Expiry date | 2024-05-24 |
| Day's range | 3.4000 - 3.4000 |
| Contract range | N/A |
| Volume | |
| Open interest | 33 |
ReutersCalifornia court to weigh fate of law treating app-based drivers as contractors
California's top state court on Tuesday will consider a labor union's challenge to a ballot measure allowing app-based services such as Uber and Lyft to classify drivers in the state as independent contractors rather than as employees with more benefits. The seven-member California Supreme Court will hear oral arguments in San Francisco in a lawsuit by the Service Employees International Union (SEIU) and four drivers who say the 2020 ballot measure known as Proposition 22 was unconstitutional. Whether gig workers should be treated as employees or contractors is a crucial issue for the industry, as employees are entitled to the minimum wage, overtime pay, reimbursements for expenses and other protections that do not extend to independent contractors, who as a result can cost companies up to 30% less, according to several studies.
Associated Press FinanceUber and Lyft say they won't leave Minnesota after all — and drivers are getting a raise
Ride-hailing companies Uber and Lyft said Monday they will keep operating in Minnesota now that state lawmakers have passed a measure that will increase driver pay, but at a lower rate than approved by Minneapolis officials earlier this year. Although the new pay minimums are less than the rate approved by the Minneapolis City Council in March, they are intended to ensure drivers across the state are paid at least the city’s minimum wage equivalent of $15.57 an hour, though they also might mean increased costs for passengers. Minnesota lawmakers approved the pay plan Sunday night, on the last day of the legislative session and sent the measure to Gov. Tim Walz, who has said he will sign the bill into law.
