. 24/7 Space News .
CAR TECH
Uber's ousted CEO calls investor lawsuit unfounded
by Staff Writers
Washington (AFP) Aug 18, 2017


Uber's ousted chief executive and company founder Travis Kalanick is asking for the dismissal of an investor lawsuit against him, calling it part of a personal attack aimed at sidelining him.

A response Thursday to a lawsuit filed last week by early Uber investor Benchmark Capital said the litigation was part of a "shameful" effort to remove Kalanick from any role at the ridesharing giant.

The Benchmark lawsuit filed in a Delaware court accused Kalanick of fraud, breach of contract and of plotting to manipulate the board of directors to allow him to return as CEO following his resignation in June.

But in his response, Kalanick claimed that Benchmark "began secretly planning an effort to oust him" and "executed its plan at the most shameful of times" following the death of his mother in a May accident.

The filing said members of Benchmark earlier this year "handed Kalanick a draft resignation letter, and told him he had hours to sign it, or else Benchmark would start a public campaign against him."

Ultimately, he relented, "given his emotional state," according to the filing.

Kalanick argued that the lawsuit -- which has brought to light strains and infighting at the world's most valuable venture-backed startup -- should be dismissed and that the dispute should be settled in arbitration.

Kalanick said Benchmark seeks to "silence and sideline" him and effectively ban him from any major decisions at the San Francisco firm.

Benchmark has asked the court to bar Kalanick from tinkering with the Uber board in any way, arguing that the former CEO was trying to pack the board with loyalists to clear the way for his return.

Kalanick -- who had been the driving force behind Uber's massive global expansion, but whose brash style had made him a liability -- still holds a large voting stake in the company, which is valued at $68 billion.

The pioneering company has been facing pressure to rein in a no-holds-barred management style led by Kalanick, 40, and to reform its work environment.

Kalanick's departure capped a rocky period for the global ridesharing giant, which has been roiled by disturbing reports of a cutthroat workplace culture, harassment, discrimination and questionable business tactics to thwart rivals.

CAR TECH
Fiat Chrysler an enticing takeover target for China
Detroit (AFP) Aug 18, 2017
Italian-American car maker Fiat Chrysler Automobiles would be an alluring takeover target for a Chinese company, instantly putting it at the top rung of the US auto industry, analysts say. In July, a well-known but unnamed Chinese automaker made at least one offer to buy Fiat Chrysler at a price supposedly above its current market value, the industry news site Automotive News reported earlie ... read more

Related Links
Car Technology at SpaceMart.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

CAR TECH
NASA Offers Space Station as Catalyst for Discovery in Washington

Two Voyagers Taught Us How to Listen to Space

A look inside the Space Station's experimental BEAM module

Voyager spacecraft still in communication 40 years out into the void

CAR TECH
ISRO Develops Ship-Based Antenna System to Track Satellite Launches

SpaceX Sets August 14 Launch Date for Next US Resupply Mission to ISS

VSS Unity Flies with Propulsion Systems Installed and Live

Space Launch System Solid Rocket Boosters 'on Target' for First Flight

CAR TECH
For Moratorium on Sending Commands to Mars, Blame the Sun

Tributes to wetter times on Mars

Opportunity will spend three weeks at current location due to Solar Conjunction

Curiosity Mars Rover Begins Study of Ridge Destination

CAR TECH
China develops sea launches to boost space commerce

Chinese satellite Zhongxing-9A enters preset orbit

Chinese Space Program: From Setback, to Manned Flights, to the Moon

Chinese Rocket Fizzles Out, Puts Other Launches on Hold

CAR TECH
ASTROSCALE Raises a Total of $25 Million in Series C Led by Private Companies

LISA Pathfinder: bake, rattle and roll

Lockheed Martin invests $350M in state-of-the-art satellite production facility

Airbus DS to expand cooperation with Russia

CAR TECH
Surprise discovery in the search for energy efficient information storage

Electricity and silver effective at keeping bacteria off plastics

Researchers 3-D print first truly microfluidic 'lab on a chip' devices

2-faced 2-D material is a first at Rice

CAR TECH
A New Search for Extrasolar Planets from the Arecibo Observatory

Gulf of Mexico tube worm is one of the longest-living animals in the world

Molecular Outflow Launched Beyond Disk Around Young Star

Deep-sea animals eating plastic fibers from clothing

CAR TECH
New Horizons Video Soars over Pluto's Majestic Mountains and Icy Plains

Juno spots Jupiter's Great Red Spot

New evidence in support of the Planet Nine hypothesis

Scientists probe Neptune's depths to reveal secrets of icy planets









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.