Uber at war: Major investor sues cofounder Travis Kalanick for fraud

TwitterFacebook

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…

More about Uber, Travis Kalanick, Uber Sexism, Business, and Sharing Economy

from Mashable http://mashable.com/2017/08/10/travis-kalanick-uber-sued-fraud-benchmark-capital/
via Facebook Page

from Blogger http://thewarringtonnews.blogspot.com/2017/08/uber-at-war-major-investor-sues.html
via Telephone Engineer Warrington

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s