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We suppose it was inevitable that Snapchat, an image-heavy messaging service with conversations that can automatically delete after a specified leng
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that Uber-founder Travis Kalanick has been trying to sabotage the search for his replacement as CEO of the company, board member Benchmark Capital is suing him and Uber for fraud, breach of contract, and breach of fiduciary duty. According to the suit, the investment firm wants Kalanick removed from his position on the board altogether, effectively ending his tenure at the company.
https://gizmodo/travis-kalanick-is-already-plotting-his-return-to-power-1797380245 Its hard to overstate how unusual it is for a venture capital firm to file a lawsuit against the company that is its biggest investment. This added drama can only futher damage Ubers reputation and value. But according to Recode, Benchmark claims that its hand was forced because Kalanick has failed to sign paperwork that would turn over control of two seats on the board. He currently controls three out of 11 seats on the board, one of which he occupies. First reported by Axios, the lawsuit was filed in a Delaware court today and only names Uber because of statutory requirements. It concerns an agreement between Kalanick and investors in June of 2016. The decision expanded Ubers board from eight to 11 seats
Stanley cup website and gave Kalanick control of three seats. Now, Benchmark claims that his failure to disclose the gross mismanagement and other misconduct at Uber invalidates the agreemen
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