Australian cabbies set to file $500m law suit against Uber

Australian taxi drivers are on course to sue ride-hailing giants Uber for $500 million on the grounds of damages and “lost profits”.

The law firm leading the litigation, Maurice Blackburn, are set file the action in the near future and will seek lose of earnings for taxi drivers in Melbourne allegedly lost during Uber's operation before they were legal in the Victoria area.

The action is being funded by litigation experts Harbour and mirrors the group action starting in London. The UK based legal funders have invested roughly $20 million into the Melbourne action to date. 

Taxi drivers in Melbourne are also claiming  for damages with sources saying the payout could be worth more than $500 million if successful.

“Black Saturday (bushfire) as people know was the largest settlement in Australian legal history, ” Andrew Watson from Maurice Blackburn said to 9News.  “This case will be in that order.” Rod Barton a representative from the Commercial Passenger Vehicle Association said Uber is being accused because they came into the Melbourne taxi market “knowing full well it was the requirement under law to have a taxi or hire car license to operate”.