01:04 PM EST, 01/30/2025 (MT Newswires) -- (Update with Lyft's ( LYFT ) response in the second paragraph.)

Uber Technologies ( UBER ) and Lyft ( LYFT ) are under investigation by the US Federal Trade Commission for allegedly illegally coordinating efforts to limit driver pay in New York City, Bloomberg reported Thursday, citing documents it reviewed.

"Lyft ( LYFT ) fully complied with antitrust law throughout this process and we look forward to working with the FTC on this matter," a Lyft ( LYFT ) spokesperson said in an email.

Uber ( UBER ) did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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