Untitled (https://www.axios.com/benchmark-capital-sues-travis-kalanick-for-fraud-2471455477.html)


25 bookmarks. First posted by schraeds 7 days ago.


"venture capital firms don't usually sue fellow board members of their single most valuable investment."
3 days ago by tamberg
Scoop: Benchmark Capital sues Travis Kalanick for fraud
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5 days ago by TaylorPearson
RT : BREAKING: Benchmark Captial has sued Travis Kalanick for fraud
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6 days ago by coty
RT : Scoop: Benchmark Capital sues Travis Kalanick for fraud - Axios
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6 days ago by AramZS
Benchmark sues Travis Kalanick for fraud, wants to invalidate 2016 stockholder vote, which would eliminate 3 board seats for Kalanick appointees, including Kalanick's
6 days ago by joeo10
Scoop: Benchmark Capital sues Travis Kalanick for fraud // so it begins
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7 days ago by sfermigier
Scoop: Benchmark Capital sues Travis Kalanick for fraud - Axios
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7 days ago by Fallingbadgers
Top story: Scoop: Benchmark Capital sues Travis Kalanick for fra… , see more
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7 days ago by LibrariesVal
Dan Primack:
<p>Key paragraph, per the suit: "Kalanick, the former CEO of Uber, to entrench himself on Uber's Board of Directors and increase his power over Uber for his own selfish ends. Kalanick's overarching objective is to pack Uber's Board with loyal allies in an effort to insulate his prior conduct from scrutiny and clear the path for his eventual return as CEO—all to the detriment of Uber's stockholders, employees, driver-partners, and customers."

Why it matters: If Benchmark's suit is successful, Kalanick would be kicked off Uber's board of directors -- thus eliminating any faint hopes of him returning to the company in a substantial role.

What to know: Benchmark was an early investor in Uber, and has a seat on its board of directors. It also helped spearhead the move to have Kalanick resign in June, and tensions between the two have contributed, in part, to the slow pace of finding a replacement. Oh, and venture capital firms don't usually sue fellow board members of their single most valuable investment.

The suit revolves around the June 2016 decision to expand the size of Uber's board of voting directors from eight to 11, with Kalanick having the sole right to designate those seats. Kalanick would later name himself to one of those seats following his resignation, since his prior board seat was reserved for the company's CEO. The other two seats remain unfilled. Benchmark argues that it never would have granted Kalanick those three extra seats had it known about his "gross mismanagement and other misconduct at Uber".</p>


Wow.
uber  kalanick 
7 days ago by charlesarthur
RT : Wow 😳😳😳
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7 days ago by theory
RT : Benchmark Capital Sues Travis Kalanick for Fraud
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7 days ago by ripienaar
Benchmark Capital Sues Travis Kalanick for Fraud
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7 days ago by kevinmarks
RT : BREAK: Benchmark Capital sues Travis Kalanick for fraud
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7 days ago by John-Dobbin
RT : Benchmark Capital sues Travis Kalanick for fraud
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7 days ago by pelles
WOW: "venture capital firms don't usually sue fellow board members of their single most valuable investment"
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7 days ago by dylan20