Benchmark Files Lawsuit, Wants To Oust Former Uber CEO From Board

Uber shareholders revolt against venture firm after surprise lawsuit

Benchmark, one of Silicon Valley's top venture-capital firms, insists in its suit that Kalanick's reported transgressions weren't evident when Uber's board voted a year ago to increase its membership from eight to 11 and to give Kalanick sole appointment rights.

Benchmark was among the Uber investors that in June pressed Kalanick to step down after a string of setbacks.

His departure capped a rocky period for the global ride sharing giant, which has been roiled by disturbing reports of a cutthroat workplace culture, harassment, discrimination and questionable business tactics to thwart rivals.

Instead, he's been actively thwarting the company's search for a new CEO in the hope that he will soon regain the role, charged early Uber investor Benchmark Capital in the explosive new suit, which it filed against Kalanick on Thursday.

But it would seem being CEO is far different than maintaining control as a board member, for just as quickly, he appointed himself to one of three board seats, so that Uber's members of the board now number 11 instead of the previous eight. The suit accuses the former CEO of mismanagement and packing the board with supporters. The pioneering company has been facing pressure to rein in a no-holds-barred management style led by Kalanick, and to reform its work environment.

"The lawsuit is completely without merit and riddled with lies and false allegations".

Abidal tells Mbappe to stay with Monaco
It is this document that the French football authorities were waiting to receive. Neymar is there to give the team a little more. We all want to see him on the pitch.

Benchmark's lawsuit led some investors earlier today to urge the investment firm to vacate its place on the board and divest enough shares so that it would no longer have board voting rights.

Uber said it had no comment on the lawsuit.

"Travis will continue to act in the interests of Uber and all of its stakeholders and is confident that these entirely baseless claims will be rejected", the statement said.

Travis Kalanick may have stepped down as Uber's CEO, but he hasn't been sitting around idly since then, according to a new lawsuit. A tape of Kalanick arguing with an Uber driver over falling fares was also released in February, prompting the CEO to apologize and admit that he needs leadership help. Uber has vowed to implement the recommendations prepared for it by former U.S. Attorney General Eric Holder. The firm says that Kalanick is trying to manipulate the board to get the maximum advantage for himself.

"It's time for a new chapter, and the right leader for our next phase of growth", he told employees. That revelation's impact was somewhat lessened by the fact that Graves would remain as a member of the board.

"In some ways my focus going forward will not actually change very much - it remains all about people, and it's clear to me the stability of our board of directors, the selection of our new CEO, and the empowerment of our management team is what is needed most", he said.

Related News:

  • Ibrahimovic in talks to pen new Manchester United deal

    He has a big striker in Romelu Lukaku and a powerful attacking midfielder in Paul Pogba. We will be backing them to stay up.
    Bills trades leaves club loaded for 2018 National Football League  draft

    Bills trades leaves club loaded for 2018 National Football League draft

    We've got a hot one coming in with the latest reactions on the news that broke today. "I'm sure he's hurt", said McCoy. Secondly, Sean McVay is the new head coach and didn't have a weapon like Watkins on the Redskins last season.
    Facebook discretely fields China photo-sharing app

    Facebook discretely fields China photo-sharing app

    CEO Mark Zuckerberg has courted Chinese officials for years, and even spent one year learning to speak Mandarin. It was unclear if China's various internet regulators were aware of the app's existence, the Times said.
  • Derek Wolfe Carted Off Field With Ankle Injury

    Derek Wolfe Carted Off Field With Ankle Injury

    Wolfe appeared unable to put any pressure on his right leg as he was helped by trainers from the cart into the team's facility. With depth NT Kyle Peko still recovering from a broken foot, the interior of the line was already a man short.
    Summer getaway sends Heathrow soaring to best month in history

    Summer getaway sends Heathrow soaring to best month in history

    Manchester, East Midlands and Exeter were the other airports where attention to accessibility was found to be lacking. United Kingdom traffic rose by nearly +5% on the back of recently launched Flybe flights to Scotland.
    East Asian nations finally give voice to concerns over South China Sea

    East Asian nations finally give voice to concerns over South China Sea

    Indeed, it's fair to wonder if China isn't the biggest victor in the United Nations sanctions decision. He also said any dialogue would deal with how North Korea can "feel secure and prosper economically".
  • S&P falls 1.4 pct in safety flight on N. Korea tensions

    S&P falls 1.4 pct in safety flight on N. Korea tensions

    When Iraq invaded Kuwait 27 years ago this month, the S&P 500 fell 1.1 percent, and was down 9.3 percent 20 days later. Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in USA crude inventories.
    European Union adds nine people, four entities to North Korea sanctions list

    European Union adds nine people, four entities to North Korea sanctions list

    The EU's sanctions are seen as its efforts to intensify pressure against North Korea amid the escalating war of words between Pyongyang and Washington.
    Massive blast in Pakistan kills 17, scores injured

    Massive blast in Pakistan kills 17, scores injured

    The blast occurred near a stadium where celebrations to mark the 70th anniversary of Pakistan's independence were under way. The deceased include officials of the security forces and civilians, said the provincial home minister.
  • Premier League previews: Pressure on Man Utd to deliver

    The Manchester United manager has also never lost on the opening day of a Premier League campaign (W7, D1). I don't think I am going to win because I always win in the second season - not at all.

    Jose Mourinho hoping to continue second-season success record with Manchester United

    Mourinho's solution for United's profligacy in front of goal was to sign Romelu Lukaku for a reported £75million from Everton. In goal, David de Gea remains a steadfast presence and the Spaniard is one of the best keepers in the Premier League .
    Jamie Carragher predicts where Liverpool will finish this term

    Jamie Carragher predicts where Liverpool will finish this term

    Their side were trailing 2-1 at the break after Watford twice took the lead through Stefano Okaka and then Abdoulaye Doucoure. That first half was like Liverpool at their worst last season so then you've had a pre-season and nothing's changing.


Most liked

Vehicle plows into crowd following Virginia white nationalist rally, driver in custody
Virginia state police also said one of their agency's helicopters crashed Saturday outside Charlottesville, killing two troopers. Her identity has not been released to the public yet because her next of kin have not yet been notified.

Gary Lineker reacts to Alvaro Morata's first goal in Chelsea v Burnley
Chelsea manager Antonio Conte was disappointed with his side's discipline during their 3-2 defeat at home to Burnley on Saturday. Gary Cahill and Cesc Fabregas both got sent off as Burnley stunned the champions .

Danish submarine owner arrested over journalist's death
Ms Wall's boyfriend had called out the authorities after the submarine failed to return after she had boarded it on Thursday. Peter Madsen, 46, denies the killing, saying he had dropped the woman off in Copenhagen before the sinking.

Former Ducks coach, GM Bryan Murray succumbs to colon cancer
He won the Jack Adams Award as coach of the year with the Capitals in 1983-84, guiding them to a 48-27-5 record. Murray led the Ottawa Senators to a Stanley Cup Final appearance the year after in 2006-07.

Tale of the Tape: The Coca-Cola Company (NYSE:KO) Moves 0.20%
ABN Amro reiterated a "sell" rating on shares of Coca-Cola European Partners PLC in a research note on Friday, April 28th. Finally, Vigilant Capital Management LLC boosted its position in Coca-Cola Company (The ) by 1.9% in the second quarter.

Wozniacki upsets world number one Pliskova in Rogers Cup
After beating Spain's Rafael Nadal yesterday, the 18-year-old wild card entry overcame Frenchman Adrian Mannarino 2-6, 6-3, 6-4. The first set witnessed a spectacular change in fortune when Caroline Wozniacki , down 1-5, won six games in a row to win 7-5.

OFF: Leicester's Iheanacho, Musa, Ndidi Ambush Arsenal's Iwobi At Emirates
It was a game that Arsenal ought to have won, having dominated proceedings all through the 90 minutes and the added time . We were quite good a year ago on corners and overall I believe that with a bit of work we can get that out of the system.

Mariners place Paxton on disabled list
He began the season with AA Arkansas where he went 1-2 with a 2.08 ERA in six games before being promoted to Tacoma May 8. He was the AL pitcher of the month in July and had won seven straight starts heading into Thursday's outing.

Bungie reveals the latest changes since the console version
Most of the remaining changes for the PC beta include fixes for a handful of character glitches and balances for abilities. Warlocks now have the same melee range as all other classes, and Bungie has also fixed the "warlock slide" glitch.

Helicopter reportedly crashes in woods in Albemarle County
Senior law enforcement official confirms that Virginia State Police troopers were killed in the helicopter crash this afternoon. Police said that no one on the ground was hurt or injured as a result of the crash.

Marlins' Samson Confirms Sale of Team to Jeter Group
The Marlins are not contending for a playoff spot now , but could be a playoff team next season with the right additions. Jeter, 43, will use just $25 million of his own money to buy a stake in the Marlins.

Interesting Facts About Usain Bolt, The World's Fastest Athlete
After a short while, though, he rose gingerly to his feet and limped across the line to huge cheers from the 56,000 crowd. It was the first time Bolt had been beaten at a major championship since the 4x100m relay at the 2007 worlds in Osaka.

North Korea talk drags stocks lower; gold, yen rise
The reclusive state raised the stakes further with a detailed plan to send a salvo of missiles towards the U.S. territory of Guam. Declining issues outnumbered advancing ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq , a 2.47-to-1 ratio favoured decliners.

Same manager, same tactics, better players - Guardiola lays out Man City blueprint
Frank Lampard - One of the greatest midfield talents of his generation, Lampard became the archetypal versatile midfielder. It takes time to get used to such things again: it takes time to take them seriously again.

Congress Considers US Options When Dealing With North Korea
Oh, and he took some time off the greens today to bring the world to the brink of nuclear war with North Korea. Bader at the Brookings Institute argues that " deterring and containing North Korea is our least bad option ".