Uber May Have to Reveal Financial Secrets in Driver Settlement
- Company says some metrics on fares, miles are trade secrets
- Judge asks why value of drivers' claims isn't being disclosed
Th Uber Technologies Inc. car service application (app) is displayed for a photograph on an Apple Inc. iPhone in New York, U.S., on Wednesday, Aug. 6, 2014. For San Francisco-based Uber Technologies Inc. which recently raised $1.2 billion of investors' financing at $17 billion valuation, New York is its biggest by revenue among the 150 cities in which it operates across 42 countries. The Hamptons are a pop-up market for high-end season weekends where the average trip is three time that of an average trip in New York City.
Photographer: Victor J. Blue/BloombergThe judge who Uber Technologies Inc. is asking to approve its $100 million settlement with drivers isn’t keen on keeping key details of the accord a secret.
While Uber says some of its metrics are trade secrets that should remain sealed from public view, U.S. District Judge Edward Chen said Wednesday he’s not sure he has enough information to decide whether the deal announced last week is fair. He ordered lawyers for the company and the drivers to tell him why they don’t want to disclose the potential monetary value of the claims at stake in the three-year-old lawsuit that was set for trial on June 20.