Uber, Lyft downgrade after California driver’s decision


Technologies Uber (UBER) – Get the report a Lift (ELEVATOR) – Get the report the two traded lower on Friday after an appeals court ruled they should treat their drivers in California like employees instead of self-employed workers, a blow that could lead the two companies to shut down operations in their State of origin.The ruling, released Thursday night, upheld a lower court order that companies comply with Assembly Bill 5 and provide drivers with health and other work-related benefits that generally accompany full-time employment status.


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