Uber and ex-CEO sued by yet another investor over ‘illicit business tactics’

By : |September 28, 2017 0

While Uber may have finally got a leader in Dara Khosrowshahi, the ride-hailing company is still knee-deep in muddy lawsuits that have got one more addition courtesy a small shareholder- Irving Firemen’s Relief & Retirement, based in Texas, which invested about $2 million in Uber in 2016.

Bloomberg reports that as per the complaint filed in a San Francisco federal court, the firm and its ex-CEO Travis Kalanick have been accused of failing to reveal at least six instances of malfeasance while “successfully soliciting billions of dollars in private investment.”

The suit also claims Uber didn’t mention to investors that it possibly broke the law when it designed software called Greyball to evade police and created a program called Hell to spy on its rival Lyft.

                                 

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“The company’s vaunted corporate culture was revealed to in truth consist of a toxic hotbed of misogyny, sexual discrimination, and disregard for the law that threatened the company’s reputation, business, and prospects,” reads the complaint.

This lawsuit joins the never-ending list of other lawsuits that Uber is battling since past couple of years. From drivers to employees to investors and of course competitors, Uber has hundreds of legal cases under its name presently.

Uber, recently lost its permit to operate in London. And, in stark contrast to Kalanick’s aggressive stance, the new CEO Khosrowshahi “apologized for the mistakes” that the company has so far made and in an email to staff wrote, “so it’s worth examining how we got here. The truth is that there is a high cost to a bad reputation.”

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