Benchmark sues former Uber CEO Travis Kalanick


The complaint, which was filed in DE court, accuses Kalanick of "fraud, breach of contract and breach of fiduciary duty". "Kalanick's overarching objective is to pack Uber's 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, employees, driver-partners, and customers", the statement said.

Benchmark's suit comes on the heels of another lawsuit from Waymo, Google's self-driving vehicle unit, which had also sued Uber.

The gist: "completely without merit and riddled with lies and false allegations", the former CEO's spokesperson says.

Included in Benchmark Capital's lawsuit is Kalanick's attempt to regain his position. Two of those seats remain unfilled.

While Benchmark's voting power nominally gives it the clout to outvote Kalanick, Kalanick now controls three out of 11 board seats, his own and two vacant seats.

The transportation service company that is listed in the Securities Exchange Commission (SEC) as Uber Technologies, indeed in the midst of weathering major challenges from without and within. According to ArsTechnica, the investors think, Benchmark's action "held the company hostage to public relations disaster". "Benchmark's lawsuit is a transparent attempt to deprive Travis Kalanick of his rights as a founder and shareholder and to silence his voice regarding the management of the company he helped create".

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In June 2017, Travis Kalanick was forced to resign as Uber's CEO due to investor pressure.

'Travis will continue to act in the interests of Uber and all of its stakeholders and is confident that these entirely baseless claims will be rejected, ' the statement said. The three investors and Benchmark did not immediately respond to a request for comment.

Uber has dealt with several problems this year, including issues of gender bias and harassment in the workplace and a trade-secret-theft lawsuit from self-driving auto company Waymo.

Much of the complaint revolves around a June 2016 decision that expanded the size of Uber's board from eight to 11.

Whether someone is in Manila or some other part of the world, they may have encountered unpleasant news regarding the company that lets them ride more conveniently: Uber. The former Kalanick confidant was said to be one of the key people who urged for him to resign.

But while he is no longer chief executive, he remains on Uber's board and has the power to appoint three members.