Uber, Lyft Drivers File Antitrust Case Against Ride Hailing Companies

A group of Uber Technologies, Inc UBER and Lyft, Inc LYFT drivers slapped an antitrust lawsuit on the companies for unfairly controlling passenger fares.
The drivers claimed that lower consumer fares would provide them with "the most competitive compensation."
The suit adds that companies hurt driver earnings by charging higher fares to the customers.
The lawsuit sought class-action status in San Francisco Superior Court for alleged violations of California antitrust law and state law prohibiting unfair business practices.
Uber has denied the allegations.
Uber and Lyft are amid multiple legal battles over classifying their drivers as gig workers instead of employees, thereby limiting their benefits.
Uber recently resumed its ride-sharing services to capitalize on the pandemic recovery as it battled a driver shortage.
Price Action: UBER shares traded lower by 2.44% at $21.23 premarket on the last check Wednesday.