Q1 Gig Economy Earnings Review: First Prize Goes to Lyft (NASDAQ:LYFT)
Uber and Lyft Drivers Remain Independent Contractors in California Supreme Court Ruling
Uber Technologies, Lyft, and Doordash win in California gig worker ruling.
Uber Technologies and Lyft can continue to classify drivers in California as independent contractors. Previously, the state's highest court said that a law supported by the companies and passed by voters did not improperly limit the legislature's power over worker protections. The unanimous ruling, announced on Thursday, supports Proposition 22 in California, which was backed by a majority of voters in 2020. The ruling is bullish for the gig economy companies, eliminate a major regulatory uncertainty for investors. If the judges had ruled Proposition 22 invalid and drivers were reclassified as employees, these companies could potentially face millions of dollars in additional costs.
Express News | Everlance And Lyft Announce Strategic Partnership To Enhance Rideshare Driver Ecosystem; Collaboration Aims To Provide Tax Savings And Exclusive Discounts On Everlance Premium Products For Lyft Drivers
Lyft and Everlance Partner to Provide Tax Savings to Drivers
Uber And LYFT Shares Are Volatile Today: What You Need To Know
