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Benchmark Capital sues former Uber CEO Kalanick - Axios
August 10, 2017 / 7:35 PM / a month ago

Benchmark Capital sues former Uber CEO Kalanick - Axios

Aug 10 (Reuters) - Venture capital firm Benchmark Capital is suing former Uber Chief Executive Travis Kalanick for fraud, breach of contract and breach of fiduciary duty, news website Axios reported on Thursday.

Benchmark's suit involves a decision in 2016 to expand Uber's board of voting directors from eight to 11, with Kalanick having the sole right to designate those seats, according to the report, citing a complaint filed in the Delaware Chancery Court. (bit.ly/2vrf8M0)

Benchmark, an early investor in Uber, said that it never would have given Kalanick the three extra seats if it had known about his “gross mismanagement and other misconduct at Uber”, the report said.

Uber and Benchmark Capital did not immediately respond to requests for comment. (Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)

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