Travis Kalanick Begins Defense Against Benchmark’s Lawsuit

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Travis Kalanick Begins Defense Against Benchmark’s Lawsuit

Former Uber CEO Travis Kalanick has filed a response to the fraud lawsuit brought by Benchmark, per reports. The response argues that the lawsuit—which alleges Kalanick misled investors in an attempt to gain control of the ridehailing company’s board—should be sent to arbitration, a move that would allow the case to play out in a more private manner.

Kalanick has also reportedly issued a statement about the lawsuit, saying he’s “disappointed and baffled by Benchmark’s hostile actions, which clearly are not in the best interests of Uber and its employees on whose behalf they claim to be acting.” Benchmark, for its part, sent an open letter to Uber staffers Monday defending its decision to take legal action against Kalanick.

Seth Klarman’s 2021 Letter: Baupost’s “Never-Ending” Hunt For Information

Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More

Check out our previous Uber coverage to catch up on the developments that have led to the lawsuit.

Article by PitchBook

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