Uber Vs. London's Black Cab: Company Faces $310M Claim from Drivers [Yahoo! Finance]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: Yahoo! Finance
The lawsuit, organized by RGL Management and estimated at roughly $312.90 million (250 million Sterling Pounds) in damages, accuses Uber of siphoning business away from local drivers. Over 10,500 black-cab drivers allege that Uber improperly acquired a license from Transport for London (TfL) in 2012, which they claim enabled Uber to divert business from traditional taxi operators unlawfully, the Financial Times reports In 2017, TfL refused to renew Uber's license, judging it not a “fit and proper” operator, which was a decision partly reversed after Uber's appeal and subsequent apologies for past mistakes by CEO Dara Khosrowshahi. In 2022, TfL granted Uber a 30-month license, which is up for renewal at the end of September this year. Moreover, in 2021, a high-court ruling forced Uber to reclassify its U.K. drivers as workers rather than independent contractors, providing them with benefits like holiday pay and pensions. In 2023, Uber announced plans to integrate London's icon
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UBER
News
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- New rideshare services launch in Twin Cities as Uber, Lyft appear poised to leave [CBS News]CBS News
- Uber rolling out shuttle service in Pittsburgh [CBS News]CBS News
- 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