Kalanick calls Uber investor charges “public & personal”

Uber hits the headline yet again. Read on!

Former CEO Travis Kalanick hits back at venture capital firm Benchmark Capital. In a lawsuit filed against Kalanick, Benchmark argues that Kalanick was trying to hide his misdeeds from the board. This included allegations of trade-secret theft involving autonomous car technology and misconduct in handling a rape committed by an Uber driver in India.

Here are the salient points bulleted:

-Kalanick calls the law suit filed against him as “public and personal attack”

-Benchmark controls 20 per cent of the voting power in Uber. It sued Kalanick last week to force him off the board, where he still holds a seat

-Kalanick argued that Benchmark’s legal action was only a small part portrayed. The more was yet to come.

-Benchmark says it was “fraudulently induced” and wants that Kalanick should give up the demands of the extra seats he is carrying

-Benchmark backed Uber first in 2011 investing $12 million

Uber has seen tough times in the recent past, do you think it would be able to restore its brand image once again?

Please share your views.

Source: Reuters.


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