UBER Dec 2024 72.500 call
- Yahoo Finance Video
Uber, Lyft stocks rise after resolving Massachusetts settlement
Shares of Uber (UBER) and Lyft (LYFT) are trading higher on Friday after the rideshare companies agreed to offer drivers a minimum wage, paid sick leave, and other benefits as part of a $175 million settlement with the state of Massachusetts. Josh Lipton and Julie Hyman discuss the settlement's implications for the two rideshare platforms. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This article was written by Gabriel Roy
- Bloomberg
Uber, Lyft Reach Deal With Massachusetts on Driver Benefits
(Bloomberg) -- Uber Technologies Inc. and Lyft Inc. agreed to a series of worker benefits to resolve a longstanding state lawsuit in Massachusetts that challenged drivers’ employment status as independent contractors, putting a stop to the companies’ bid to take the issue before voters in November.Most Read from BloombergGavin Newsom Is Ready for the Biden EmergencyThe Question on Democrats’ Minds: How to Replace Biden?Biden’s Disastrous Debate Accelerates Doubts Over CandidacySupreme Court Over
- Associated Press Finance
Uber and Lyft agree to pay drivers $32.50 per hour in Massachusetts settlement
Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour under a settlement announced Thursday by Massachusetts Attorney General Andrea Campbell, in a deal that also includes a suite of benefits and protections. The two companies will also be required to pay a combined $175 million to the state to resolve allegations that the companies violated Massachusetts wage and hour laws, a substantial majority of which will be distributed to current and former drivers. Campbell said the settlement resolves her office’s yearslong litigation against the two companies and stops the threat of their attempt to rewrite state employment law by a proposed 2024 ballot initiative.
