Lyft to Pay $270M+ to Settle California Driver Misclassification Claims

Lyft has agreed to pay over $270 million to resolve claims that it misclassified California drivers as independent contractors from April 2016 to December 2020, violating state law. The settlement, announced in an SEC filing, involves the state, San Francisco, Los Angeles, San Diego, and the labor commissioner, pending court approval. This marks a significant financial and legal precedent for gig-economy classification, potentially influencing similar cases and regulatory actions.