Why You Shouldn't Bet Blindly on Uber or Lyft
Just when it looks like litigators are finally ready to leave companies like Uber Technologies (NYSE: UBER) and Lyft (NASDAQ: LYFT) alone, POW! These outfits and their investors get blindsided.
On Friday, Aug. 20, a California state judge ruled that Proposition 22 is unconstitutional. Prop 22, which was approved by the state's voters in November, allows Uber and Lyft drivers to remain contractors rather than be reclassified as employees. As a result, both companies might be spending more money to keep their California drivers operating. Proposition 22 was meant to keep that from happening.
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Source Fool.com
