Former Uber CEO Travis Kalanick has lodged an official response to Benchmark’s fraud lawsuit, accusing the Uber investor of executing a plan to oust him “at the most shameful of times,” just after the sudden death of his mother.
In a Delaware court filing, Kalanick argues that his dispute with Benchmark should be handled by arbitration rather than in court. He says there's no need for an injunction to remove him from Uber's board because there "is no uncertainty" about the board's current effectiveness. Kalanick also alleges that Benchmark principals Peter Fenton and Matt Cohler ambushed him and pressured him to sign a resignation letter a week-and-a-half after his mother's funeral, and that Benchmark's claims of fraud "defy common sense" and are based on "information and belief" rather than facts.
Q2 Letter: Baupost won big in Q2 with PG&E, eBay, Liberty Global
Seth Klarman's Baupost recorded "strong" gains for the second quarter, although precise numbers were not included in the July 23 letter to investors, which was reviewed by ValueWalk. Klarman said that during the first quarter, they were "substantial purchasers of securities," while during the second, they were "significant net sellers" due to the strong rally. Read More
How did the two sides get to this point? Here's a timeline of events that led to the lawsuit.
Article by PitchBook