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Lawsuit dismissal signals a good day for Kalanick

26 Jan 2018

 

 

A Delaware judge has today, thrown out, venture firm, Benchmark's lawsuit against former Uber CEO Travis Kalanick signalling an end to the long running board room feud.  

 

Judge Sam Glasscock III, dismissed the case after Benchmark agreed to drop the action, on the provision that Uber enacted a series of governance reforms.

 

The reforms, which were enacted on 18th January, in effect disempowered both Kalanick and Benchmark.

 

In dismissing the case, Judge Glasscock lll ordered that both sides were to bear their own costs.


Both parties recently sold off shares within Uber to Japanese investment firm

Softbank. Benchmark were said to receive about $900 million in cash for their 14.5 percent sale. Uber's former CEO, Travis Kalanick, was selling a percentage of his shares, earning himself around $1.4 billion. 

 

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