Former CEO Travis Kalanick is being sued by an Uber investor
Tumultuous is probably the best way to describe Travis Kalanick’s 2017 as the former Uber chief exec now faces legal action from one of his former firms largest investors.
In court papers filed in Delaware on Thursday it was revealed that Benchmark Capital Partners (an Uber investor) is suing Kalanick over allegations of fraud, among other things.
“Plaintiff Benchmark brings this action to redress the fraud, breaches of fiduciary duty, and breaches of contractual obligations perpetrated by Kalanick, the former CEO of Uber, to entrench himself on Uber’s Board of Directors and increase his power over Uber for his own selfish ends,” reads the filing.
At the heart of Benchmark’s case are three board seats that Kalanick created in 2016. The investor alleges that the former CEO is using these board seats to get himself back on Uber’s board of directors and wants the court to rule the decision that lead to the creation of those seats invalid.
In addition to that Benchmark is also seeking payment for damages and any interest that accrues pre and post judgement.
A spokesperson for Kalanick issued a statement regarding the lawsuit, saying “[It] is completely without merit and riddled with lies and false allegations.”
As we mentioned 2017 has been rather a rough ride not only for Kalanick but Uber as well. Uber management was accused of sexual harassment earlier this year by a former engineer. Then Kalanick was given a one star rating by a driver after getting into an argument.
The hits kept on coming though when Waymo (an Alphabet company) accused Uber of knowingly buying a firm which allegedly stole its LiDAR self-driving technology.[Source – Reuters]