Civil Litigation,
Securities
Aug. 12, 2024
Judge OKs $200M Uber-shareholder deal
Stockholders claimed Uber's information about its IPO hid plans to expand into new markets despite greater risk to passenger safety in those places. The company said it was transparent.
A federal judge in San Francisco signed off on a $200 million deal between shareholders and Uber Technologies Inc. on Friday, tentatively resolving allegations that the rideshare provider hid its intentions to expand its revenue at the expense of passenger safety ahead of its 2019 initial public offering.
"We believe strongly that our IPO materials were both complete and accurate and are pleased to put this matter behind us," Uber spokeswoman Carissa Simons said in a pre...
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