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Uber Investor Declares a State of Emergency

At a crucial time when Uber Technologies Inc. is looking to fill a leadership void, repair a foul corporate culture, salvage morale, fend off rivals worldwide, prove it didn’t benefit from stolen trade secrets and deal with a host of other issues, the ride-hailing company is forced to hit the pause button.

“It puts the company in limbo and prevents them from moving forward,” said Arun Sundararajan, a New York University professor and author of The Sharing Economy .

Benchmark claims Kalanick breached his contract and violated his fiduciary responsibilities by withholding information from Uber’s board before it voted last year to allow him to add three directors of his choosing.

Benchmark may have recognized this and asked for a preliminary injunction to remove Kalanick from the board while the matter is decided in Delaware Chancery Court.

Meg Whitman, the Hewlett Packard Enterprise Co. chief who was on Uber’s short list, took herself out of the running last month, backing away from a messy process .

READ MORE (Bloomberg)

  • Uber Investor Sues to Force Former CEO Travis Kalanick off
  • Recode Daily: Uber goes to war with itself; trolls go to war with GoogleRecode
  • Things At Uber Just Got Worse: Benchmark Is Now Suing Former CEO Travis ...Tech Times
  • Uber investor sues former CEO Travis Kalanick for fraudDeutsche Welle
  • Turf war at Uber as major investor sues firm's founder Kalanick for fraudRT
  • Uber Rocked as Kalanick Sued for Fraud by Key InvestorWccftech
  • Major investor Benchmark sues former Uber CEO Travis Kalanickindiablooms
  • Data Sheet—Friday, August 11, 2017Fortune
  • 6 Most Important Things in Business Today24/7 Wall St.

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Uber Investor Declares a State of Emergency


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