Uber at war: Major investor sues cofounder Travis Kalanick for fraud
It's a bad year to be Travis Kalanick. The ousted Uber CEO is now being sued for fraud by one of the ride-hailing company's most important investors.
In a complaint filed Thursday in Delaware Chancery Court, venture firm Benchmark Capital—an early Uber investor with a seat on its board of directors—accused Kalanick of fraud, breach of contract, and breach of fiduciary duty.
Kalanick, the firm says, used Uber's board to secure his position at the company even after he stepped down as CEO. More specifically, the lawsuit says that Kalanick added three extra voting seats to Uber's board and gave himself the sole right to decide who got them. Kalanick gave one to himself after his resignation and left the other two unfilled. Read more...
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Uber at war: Major investor sues cofounder Travis Kalanick for fraud
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Friday, August 11, 2017
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