10 AUG

Investors hit Uber ex-CEO hard, sue over alleged “gross mismanagement”

Travis Kalanick, the recently removed CEO of Uber, has been sued by a group of investors that has accused him of “gross mismanagement and misconduct” during his tenure.

Benchmark Capital Partners, which currently holds 13 percent of the company’s stock and about 20 percent of its voting power on the board of directors, filed the lawsuit against Kalanick and Uber on Thursday. (The case was first reported by Axios.)

The complaint (which was filed in Delaware Court of Chancery as it involves two companies incorporated in the state) outlines in one fell swoop the myriad complaints that have befallen Uber during Kalanick’s time as CEO. These include reports on sexual harassment, Greyball, the questionable acquisition of Otto (and the resulting in the still ongoing lawsuit from Waymo that followed), and other widely reported missteps.

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Ars Technica

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.