Shareholders sue Uber’s board over sexual assaults, other incidents
Key takeaways
- A lawsuit led by a Detroit pension fund accuses Uber management and its board of putting profits ahead of compliance and safety, decisions that have exposed the company and its shareholders to risk.
- District Court for the Northern District of California in San Francisco, alleges that Uber is a serial compliance offender that has knowingly cut corners.
- The lawsuit, which names CEO Dara Khosrowshari, claims board members breached their fiduciary duty to the company and its shareholders by ignoring repeated warnings of compliance and safety failures.
A lawsuit led by a Detroit pension fund accuses Uber management and its board of putting profits ahead of compliance and safety, decisions that have exposed the company and its shareholders to risk.
The lawsuit, which was filed Monday in the U.S. District Court for the Northern District of California in San Francisco, alleges that Uber is a serial compliance offender that has knowingly cut corners. This lack of compliance culture has led to thousands of lawsuits by victims who have alleged sexual assault and harassment by drivers, according to the complaint.
The lawsuit, which names CEO Dara Khosrowshari, claims board members breached their fiduciary duty to the company and its shareholders by ignoring repeated warnings of compliance and safety failures. The plaintiffs want Uber s leaders to personally compensate the company for alleged harm, return certain compensation they received, and implement stronger oversight and compliance measures.