Uber IPO Docs Warn Of Legal Woes, Gov't Probes
Law360 (April 15, 2019, 8:28 PM EDT) -- Uber’s yearslong preparation to go public included overhauling its executive ranks and corporate culture to head off a series of high-profile scandals that unearthed allegations of illicit business tactics and rampant flouting of the law.
By filing for its initial public offering Thursday, Uber Technologies Inc. bluntly told potential investors that it’s losing more than $1 billion a year, despite rapidly rising revenue and explosive growth in the fiercely competitive ride-hailing market it helped pioneer.
In addition to offering a glimpse into the company’s finances, Uber’s prospectus revealed that it’s navigating a legal minefield filled with government investigations, compliance risks and lawsuits...
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