- San Francisco Superior Court Judge Ethan Schulman grants California's preliminary injunction against Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT).
- California Attorney General Xavier Becerra and a trio of city attorneys filed a preliminary injunction to force Uber and Lyft to comply with a new state law and immediately stop classifying their drivers as contractors.
- Judge Schulman will pause the injunction for 10 days to give the companies time to appeal the decision.
- Uber shares are down 1% AH and Lyft drops 1.2%.
- Previously: Uber, Lyft sued by California AG (May. 05 2020)