Ride-hailing service Lyft to pay $300,000 to settle New York state lawsuit

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Lyft, the ride-hailing service, will pay $300,000 to settle allegations that it violated New York laws.

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The New York attorney general's office sued Lyft last summer for operating in the state without requiring its drivers to have commercial licenses or proper insurance. As part of the settlement, Lyft has agreed to follow vehicle-for-hire laws in the state, Attorney General Eric Schneiderman's office said Thursday.

Lyft did not immediately respond to a request for comment.

With Lyft's app, users can book a ride from a nearby driver. The company, founded three years ago, is based in San Francisco and operates in several cities, including Boston, Chicago, Dallas and Los Angeles.