Three Uber Investors Ask Benchmark to Forfeit Board Seat
- They say in a letter that Benchmark suit holds Uber ‘hostage’
- Two CEO candidates are said to express dismay with legal fight
Ex-Uber Technologies Chief Executive Officer Travis Kalanick allegedly duped investor Benchmark into allowing him to fill three of the ride-sharing company’s board seats, according to a lawsuit filed Thursday calling for his ouster as a company director. Bloomberg's Brad Stone has more on 'Bloomberg Markets.' (Source: Bloomberg)
Three Uber Technologies Inc. investors said a lawsuit against co-founder Travis Kalanick was designed to “hold the company hostage” and asked Benchmark, the venture capital firm that brought the suit, to step down from the board.
The investors sent a letter Friday addressed to Benchmark, saying they opposed the suit, according to a copy reviewed by Bloomberg. The investors are Sherpa Capital’s Shervin Pishevar, Yucaipa Companies’ Ron Burkle and Maverick’s Adam Leber. They don’t hold seats on the board or a majority of the company’s stock, but the letter said they’re seeking other shareholders to add their signatures.