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COMING UP:Share Opener Variant 3



>> More troubles for former Uber CEO Travis Kalanick. Benchmark Capital on Thursday suing him for fraud, breach of contract, and breach of fiduciary duty. Seeking to kick him off the company's board of directors. Reuters' Tech Editor Jonathan Weber.>> Apparently he has been manoeuvring to try to stay in power at Uber in some fashion, he's still on the board of directors.
And this lawsuit is an effort to get him off the board. There's been a big split between Benchmark and Travis Kalanick personally for quite some time. And Benchmark seems very much fed up, I think, with his behavior and they really want to get him out of the company and clear the way for a new CEO.
>> The lawsuit centers around a decision in 2016 by Benchmark, one of Uber's largest investors, to expand the board of voting directors from 8 to 11. With Kalanick having the sole right to designate those seats, according to a complaint filed in a Delaware court Thursday. But Benchmark says that it never would have given Kalanick the extra power if it had known about his quote gross mismanagement at Uber.
Which the lawsuit says includes allegations of sexual harassment within the company, and a major pending lawsuit brought by Google over the alleged theft of technology related to self-driving cars.>> So there have been a whole series of incidents that have really thrown Uber into turmoil. And this lawsuit is both a response to those incidents, but also a new incident that creates new turmoil.
So certainly not what Uber would have been hoping for at this stage.>> Uber and Benchmark Capital did not immediately respond to requests for comment.