Lyft to pay $272 million settlement to California rideshare drivers

Lyft has agreed to a $272.5 million settlement to resolve a six-year legal battle with the state of California. The lawsuit alleged that the rideshare company committed wage theft against its drivers. The agreement concludes litigation initiated by the California Attorney General and municipal partners regarding the company's labor practices.

The settlement marks the end of a long-standing dispute over driver compensation and employment classification within the state. The funds are designated to address claims brought against the company, providing a resolution to the state's allegations of systemic wage issues.