Uber Aims To Kill Suit Over Post-IPO Stock Price Slide
Law360 (May 6, 2020, 9:07 PM EDT) -- Uber Technologies Inc. and a handful of executives have asked a California federal judge to throw out a suit alleging that the ride-hailing giant misled shareholders in the run-up to its initial public offering, causing them to lose money when the company's stock price dropped.
The San Francisco-headquartered company on Tuesday trashed the investors' lawsuit as a "kitchen-sink complaint" and an "impermissible puzzle pleading" that makes it impossible "to discern the precise contours of its claims."
Uber also said the lies and omissions the investors alleged — such as the company's struggles with legal and regulatory compliance, rider safety and achieving profitability...
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