A lawsuit was filed by an investor in Uber Technologies, Inc (NYSE:UBER) over alleged breaches of fiduciary duty by certain directors.
San Diego, CA -- (SBWIRE) -- 12/03/2020 -- An investor in NYSE: UBER shares filed a lawsuit against certain directors of Uber Technologies, Inc over alleged breaches of fiduciary duties.
Investors who are current long term investors in Uber Technologies, Inc (NYSE: UBER) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that certain directors of Uber Technologies, Inc issued offering documents in connection with Uber's its May 2019 initial public offering that allegedly misrepresented the scope of Uber's corporate scandals, passenger safety complaints and unsustainable business prospects — and the risks they posed.
The lawsuit against certain directors of Uber follows a lawsuit that was filed by investors against Uber over alleged Federal Securities Laws violations. The plaintiff in that lawsuit claims that the registration statement and related prospectus issued in connection with Uber's May 2019 IPO was allegedly false and/or misleading statements and/or failed to disclose that at the time of the Offering, Uber Technologies, Inc was rapidly increasing subsidies for drivers and customer's rides and meals in a bid for market share, which caused the Company's sales and marketing expenses to swell, that the Defendants were cutting (or planned to cut) costs in key areas that undermined the Company's central growth opportunities, and that as a result, defendants' statements about Uber's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Uber Technologies, Inc (NYSE: UBER) have certain options and should contact the Shareholders Foundation.
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