Benchmark, one of the early investors in Uber, has sued former CEO Travis Kalanick. He's accused of committing fraud, breaching contracts, and breaching his fiduciary duty. The venture capital firm says the former CEO has acted "selfishly" and possibly illegally by trying to return to his CEO position.
Kalanick and Benchmark currently hold board seats. That could change, with Kalanick losing his position, depending on the outcome of the lawsuit.
A big part of the complaint deals with Kalanick's alleged stacking of Uber's board with "loyal allies." Last year, the board increased from 8 to 11. He was allowed to pick those seats, one of which he has since given to himself. Benchmark says he wouldn't have been provided that option had the investors known about his bad behavior.
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