Ride-sharing service Lyft reaches deal to allow New York City launch

NEW YORK Fri Jul 25, 2014 12:17pm EDT

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NEW YORK (Reuters) - Lyft Inc has signed an agreement with New York authorities that will allow the ride-sharing service to launch in New York City with commercial drivers, New York Attorney General Eric Schneiderman announced on Friday.

The agreement, which also included the state's top insurance regulator, Benjamin Lawsky, also calls for Lyft to suspend its current operations in Buffalo and Rochester by Aug. 1.

The deal comes one week after Schneiderman and Lawsky asked a state judge to block Lyft's planned New York City launch just hours before it was set to start, claiming the company had ignored licensing and insurance laws.

(Reporting by Joseph Ax; Editing by Nick Zieminski)

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