Former Uber CEO Travis Kalanick is getting sued for alleged fraud by early Uber investor Benchmark Capital

Early Uber investor Benchmark Capital is suing former Uber CEO Travis Kalanick for alleged fraud, Axios' Dan Primack first reported on Thursday. The VC firm is also suing Kalanick for alleged breach of contract and breach of fiduciary duty.

"In 2016, Kalanick fraudulently obtained control of three newly created seats on Uber’s Board by his material misstatements and fraudulent concealment from Benchmark of material information that would have led Benchmark to reject the creation of the seats," Benchmark Capital wrote it its complaint.

Benchmark Capital first invested in Uber's Series A funding round in 2011.

"Kalanick’s overarching objective is to pack Uber’s Board with loyal allies in an effort to insulate his prior conduct from scrutiny and clear the path for his eventual return as CEO—all to the detriment of Uber’s stockholders, employees, driver-partners, and customers," the complaint says.

You can read Benchmark Capital's full complaint below:

 

Developing...

Join the conversation about this story »

NOW WATCH: These popular devices keep a recording of everything you ask them — here's how to find it and delete it

Contributer : Tech Insider http://ift.tt/2wMEX8R

Something that you might miss to see?