A lawsuit was filed on behalf of investors in Uber Technologies, Inc (NYSE:UBER) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/06/2022 -- An investor, who purchased shares of Uber Technologies, Inc (NYSE: UBER), filed a lawsuit over alleged violations of Federal Securities Laws by Uber Technologies, Inc.
Investors who purchased shares of Uber Technologies, Inc (NYSE: UBER) have certain options and for certain investors are short and strict deadlines running. Deadline: October 17, 2022. NYSE: UBER investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Following years of negative publicity, Uber Technologies, Inc made changes to its top management, purportedly reformed its corporate culture, and touted itself as a new company that had atoned for its prior compliance and cultural issues. However, unbeknownst to investors, Uber Technologies, Inc and its top management had still not transparently divulged and accounted for the full scope of the Company's prior misconduct.
On Sunday, July 10, 2022, news reports emerged regarding a cache of 124,000 internal Uber records, dubbed the "Uber Files" by media outlets, spanning from 2013 to 2017, that were leaked to The Guardian and subsequently shared with the International Consortium of Investigative Journalists and other news outlets. These files revealed, among other things, how Uber Technologies, Inc secretly met with various government officials and politicians to skirt laws and regulations around the world, as well as risked Uber Technologies, Inc drivers' safety, to advance the Company's growth, and how all the foregoing conduct was known to, and in fact encouraged by, the Company's top management.
The plaintiff claims that between May 31, 2019 and July 8, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that Uber had defective disclosure controls and procedures, that Uber concealed and/or downplayed the full scope and severity of its prior misconduct, including, inter alia, the extent to which it secretly lobbied government officials and politicians to bypass legal and regulatory requirements, as well as knowingly risked the safety of Uber drivers, to fuel the Company's global growth, that as a result, Uber's present global footprint and market share is in significant part the byproduct of previously undisclosed, unsustainable, and illegal business practices, that all the foregoing, once revealed, was likely to negatively impact Uber's reputation, as well as subject the Company to a heightened risk of governmental and regulatory scrutiny and enforcement action, and that as a result, the Company's public statements were materially false and misleading 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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About The Shareholders Foundation
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