Investors hit Uber ex-CEO hard, sue over alleged “gross mismanagement” (page 3)

Benchmark Capital, one of Uber’s most influential investors, is suing former CEO Travis Kalanick for fraud, according to Axios. The complaint, which was filed in Delaware court, accuses Kalanick of “fraud, breach of contract and breach of fiduciary duty.” It’s the latest sign that, despite Kalanick’s recent resignation from Uber, the company continues to find itself immeshed in Kalanick-related chaos. Benchmark, which was an early investor in Uber and has a seat on its board of directors, alleges that Kalanick’s “overarching objective” is to pack the 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,... Continue reading…

Uber investor sues to force former CEO Kalanick off board

SAN FRANCISCO (Reuters) - Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride services company and rescind ...

Thu 10 Aug 17 from Reuters Technology

Major Uber investor sues former CEO Kalanick

Benchmark claims that Kalanick sought to "increase his power over Uber for his own selfish ends."        

Thu 10 Aug 17 from USA today

Benchmark sues former Uber CEO Travis Kalanick

 Benchmark, the Silicon Valley venture firm and early investor in Uber, has sued former CEO Travis Kalanick. In a Delaware Chancery Court filing, originally identified by Axios’ Dan ...

Thu 10 Aug 17 from TechCrunch

Uber to cut back car-leasing business

High expenses cited as reason for ride-hailing service's decision to wind down program.        

Tue 8 Aug 17 from USA today

Travis Kalanick won't return as Uber CEO, reports say - CNET

Former CEO Travis Kalanick won't be rejoining Uber's executive team, according to reports.

Tue 8 Aug 17 from CNET

Former Uber CEO Travis Kalanick will not be returning, co-founder says

Uber’s hunt for its next CEO continues and in typical company fashion, it’s not without a bit of controversy.

Mon 7 Aug 17 from Techspot

Benchmark says Uber could be ‘comfortably’ worth over $100 billion in next couple of years

 Uber investor Benchmark says the firm is confident about Uber, “despite speculation to the contrary,” the firm wrote on Twitter today. In fact, Benchmark is “incredibly ...

Mon 7 Aug 17 from TechCrunch

Uber co-founder says Kalanick not returning as CEO: report

In a companywide email, Garrett Camp wrote, “Despite rumors I'm sure you've seen in the news, Travis is not returning as CEO."        

Mon 7 Aug 17 from USA today

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