From Yahoo Finance: 2025-03-25 13:26:00

Hedge fund Engine Capital Management prepares for a boardroom battle at Lyft, nominating director candidates. The activist investor urges Lyft to address stock price decline and corporate governance. Lyft, valued at $5.2 billion, has faced investor discontent over its dual-class share structure. Engine nominated two directors for the 10-member board. Lyft’s stock rose 2.2% after news of Engine’s campaign, but remains down 36% over the last year and 55% over the last five years. Engine owns less than 1% of Lyft, with stake ownership requirements posing a challenge. Lyft and Engine representatives were unavailable for immediate comment.



Read more at Yahoo Finance: Activist investor Engine Capital nominated 2 director candidates at Lyft, sources say