Marcha 24, 2018

Former Uber CEO Travis Kalanick sued by early investor

11 Agosto 2017, 01:13 | Dolorita Barahona

One Of Uber's Largest Investors Just Sued Former CEO Travis Kalanick

Uber's first employee steps down from executive role

Along with fraud, Benchmark is also suing for breach of contract and breach of fiduciary duty.

Though Kalanick resigned as CEO in June, he remains on the company's board. The search for his replacement has deeply divided Uber's board and the company, with a small but vocal faction of employees petitioning for Kalanick's return to an operational role.

The venture capital firm claims Uber's former CEO concealed material information from investors when he created three new board seats in 2016 and gave himself the right to appoint people to those seats.

"It is apparent that Kalanick has attempted to acquire the power to pack the Board to facilitate his desired re-appointment as Uber's CEO", the suit alleges. But Kalanick has reportedly been telling friends that he's "Steve Jobs-ing it" and wants to finagle his way back into the CEO position.

This action, Benchmark Capital claims, was taken by Kalanick to protect himself from the repercussions of the numerous black marks against the company that have been accrued in recent years. After a former Uber employee wrote a story detailing sexual harassment and an environment that discriminated against women, former U.S. Attorney General Eric Holder oversaw an investigation into the company's culture. Benchmark has about 20% of total Uber's voting power.

Uber declined to comment on the lawsuit. "Kalanick does not have the right to hold any seat on Uber's Board". Benchmark and Kalanick are amongst the largest shareholders.

The examples listed offer a neat summation of the scandals and legal fights that have beset the Silicon Valley giant and links Mr Kalanick to all of them, arguing that he was aware of encroaching trouble but did not disclose that to investors. Reports have already said that the recent brace of scandals and rumors about Uber's culture has made it hard to hire talent, which will make it even more challenging to fill those roles.

Benchmark Capital is attempting to wrest control of Uber from ousted CEO Travis Kalanick.

A spokesman for Travis Kalanick described the lawsuit as "completely baseless" and "riddled with lies", but stopped short of pointing out specific inaccuracies.

The letter, signed by five investors who account for as much as 40 percent of shareholder votes, cited the Waymo trade secrets suit and Uber's Greyball technology, used to protect drivers from facing fines or arrests by filtering out ride requests from law-enforcement officials.

Otras noticias

Tendencias Ahora

Patriots Become 1st NFL Franchise to Buy a Team Plane
In March 2015, Wilfork's time with the franchise came to an end, as the option on his contract was not picked up by the team. The defending Super Bowl champion New England Patriots recently became the first NFL team to purchase their own plane.

Two detained in Dutch tainted eggs investigation
Authorities suspect Belgian company Poultry Vision of producing a fipronil-laced treatment created to kill mites in chickens. In total, 180 farms in the Netherlands are confirmed to have used an anti-lice poison which contained Fipronil .

United States report confirms 2016 as warmest year on record
El Niños are weather phenomena that warm the Pacific Ocean and pump lots of excess heat into the atmosphere, raising temperatures. It also attempted to paint ecofascists as good Samaritans who had no choice but to "leak" a report to save humanity.

Best viewing for Perseid meteor shower should be this weekend
During a good Perseid shower under ideal conditions, the rate of meteors visible is about one meteor per minute. Unfortunately weather forecasts suggest that Saturday evening and Sunday morning may be cloudy in Southampton .

Dollar hits eight-week low vs. yen, North Korea tensions spook investors
In commodities , USA crude fell 0.67 percent to $49.23 per barrel and Brent was last at $52.58, down 0.23 percent on the day. Jobless claims increased to 244,000 in the latest week, although continuing claims declined.

TODAY'S FORECAST: Mostly cloudy, chance of showers and thunderstorms
Drivers crossing through valleys in eastern NY should be prepared to hit areas of reduced visibility, as low as a quarter mile. WEDNESDAY: Partly cloudy skies and warm temperatures will be around for Wednesday, with a slight chance for a stray shower.

This can be Manchester City's season in the Premier League — COMMENT
It's the start of the greatest league in the world if you believe the hype around the Premier League . With its rigid pay structure, Tottenham lacks the will to break its budget to offer big salaries.

Barclays PLC (LON:BARC) Given Sell Rating at Citigroup Inc
It is negative, as 18 investors sold MG shares while 34 reduced holdings. 115 funds opened positions while 683 raised stakes. The New York-based Ionic Cap Mgmt Ltd has invested 0.04% in Verizon Communications Inc. (NASDAQ:FIZZ) or 67,279 shares.

Activists plan court action against Australia gay marriage postal vote
There was also no way to question voting irregularities or dispute the result through the Court of Disputed Returns. So, currently, the Turnbull government is likely going to proceed with plan b, which is a postal plebiscite vote.

West Virginia governor blames House Democrats for party switch
American Action Network surveyed 1,000 likely voters nationwide from August 1 through August 3. House Speaker Paul Ryan (R-Wis.) asserted that Trump is "expanding the Republican tent".