Today we agreed in New York State Supreme Court to put off the launch of Lyft's peer-to-peer model in New York City and we will not proceed with this model unless it complies with New York City Taxi and Limousine regulations. We will meet with the TLC beginning Monday to work on a new version of Lyft that is fully-licensed by the TLC, and we will launch immediately upon the TLC's approval. This is a positive step forward and a good demonstration of compromise in balancing innovation with government regulation, and we appreciate the continued efforts of New York City government to find common ground for the betterment of New York.
There was no TRO or injunction granted today. Instead, the judge adjourned to Monday because we agreed to hold our launch and maintain status quo. We are obtaining the court transcript, and we will obtain statements by those in court to show this is a deliberate misstatement by the AG and DFS. There would be no need for a hearing on Monday if a TRO or injunction was granted. As further proof that court was adjourned, the AG's insurance claims were never presented and Lyft had no opportunity to respond.
The New York Lyft community will stand together and grow stronger as we bring Lyft to the Big Apple!