Travis Kalanick, the co-founder of ride-hailing company Uber, and the company�...
WILMINGTON, Del. - Travis Kalanick, the co-founder of ride-hailing company Uber, and the company’s directors won the dismissal of an investor lawsuit that sought to hold them liable for a fight over trade secrets that slowed Uber’s push into autonomous vehicles.
The ruling on Monday by Delaware Vice Chancellor Sam Glasscock dismissing the lawsuit closes a difficult chapter for Uber, which paid $245 million to Alphabet in February 2018 to settle their trade secrets fight. An Uber spokesman said the company was “pleased with the court’s decision to dismiss this meritless complaint.”The dismissed lawsuit accused Kalanick and Uber’s directors of breaching their fiduciary duties to investors by approving Uber’s $680 million deal in 2016 for Ottomotto LLC. The self-driving trucking company was founded and staffed by former employees of Waymo, which is owned by Alphabet.
The Court of Chancery judge, however, said there was no evidence that the board simply rubberstamped a deal.
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