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Tech

Uber, Lyft settle suit involving top execs

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Opening sequence

Tech

Uber, Lyft settle suit involving top execs

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COMING UP:Uber, Lyft settle suit involving top execs

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Transcript

00:00:01
>> The dramatic legal battle of the C-suites at rival ride-sharing companies Lyft and Uber called off. The companies agreeing to settle Uber's high stakes suit against its much smaller competitor Tuesday, avoiding a trial that could've revealed embarrassing details about both. Reuters West Coast legal correspondent Dan Levine.>> This litigation was really driven by the personalities of the executives at these two companies.
00:00:27
When Lyft's Chief Operating Officer went to go to work for Uber, he told them that Lyft's Chief Technology Officer had said he found a way to hack into Uber's systems.>> Lyft's CTO denies that he played a role in a 2014 data breach at Uber involving the download of names and license numbers of up to 50,000 drivers.
00:00:54
One reason Uber may have pulled back, allegations that Lyft's former COO violated his confidentiality pledges at his new job at Uber. But Uber has also been settling a lot of lawsuits lately.>> I think they’re trying to position themselves as a mature company, as opposed to more of a brash upstart, and getting rid of some of this legal risk that is facing them and headline risk that that brings.
00:01:23
I think helps them do that. Last year Reuters was first to report the US Department of Justice had opened a criminal investigation into whether any Lyft employees were involved in Uber's data breach. It's not clear how a settlement will impact the DOJ's investigation.