Uber’s Travis Kalanick sued for fraud

Source: BBC [UK state media]

“Travis Kalanick, the former Uber chief executive who was ousted in June, is being sued by one of the company’s biggest investors. Benchmark Capital, which owns 13% of the ride-sharing firm, has accused Mr Kalanick of fraudulently attempting to fill board seats with loyal allies. They said that Mr Kalanick was paving the way for his potential return as chief executive. A spokesman for Mr Kalanick called the lawsuit ‘completely without merit.’ In a legal filing obtained by Axios, Benchmark’s lawyers alleged that Mr Kalanick sought to ‘entrench himself on Uber’s board of directors and increase his power over Uber for his own selfish ends.’ It goes on to say: ‘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.'” (08/10/17)