Uber Hit With £250 Million Suit From London's Black Cab Drivers [BNN Bloomberg (Canada)]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: BNN Bloomberg
The claim alleges Uber improperly obtained a license to operate in the city and made unlawful gains for at least six years from 2012, RGL Management Ltd., the firm running the claim, said. Uber's operating system did not comply with the requirements of the UK's laws on private hire vehicles. The claimants also say that Uber's intention was to gain market share unlawfully and, by necessity, take business from existing black cab drivers. “Uber knew this at all material times; and that in order to obtain its license Uber deliberately misled Transport for London as to how that operating system worked,” RGL, which is managing the claim, said. The fresh dispute resurfaces old tensions for the ride hailing platform that's faced multiple setbacks since entering the London market. Transport for London first refused to renew its license to operate in 2017 on safety and regulatory concerns, and again in 2019. Both times Uber successfully appealed those decisions. It was also forced to o
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UBER
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- Uber Technologies, Inc. (NYSE: UBER) had its price target lowered by analysts at Loop Capital from $88.00 to $83.00. They now have a "buy" rating on the stock.MarketBeat
- Uber Technologies, Inc. (NYSE: UBER) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.MarketBeat
UBER
Earnings
- 5/8/24 - Miss
UBER
Sec Filings
- 5/15/24 - Form 4
- 5/14/24 - Form 8-K
- 5/13/24 - Form 144
- UBER's page on the SEC website