9th Circ. Urged To Revive Uber Fraud, Illicit Biz Practices Suit
Law360 (June 12, 2020, 9:33 PM EDT) — A Texas retirement fund has told the Ninth Circuit that Uber is liable for investors’ losses resulting from corporate scandals and public relations mishaps, saying the ride-hailing giant falsely boasted about Uber’s regulatory compliance and overall financial health while downplaying rampant mismanagement.
Irving Firemen’s Relief & Retirement Fund urged the appeals court to reverse U.S. District Judge Haywood S. Gilliam Jr.’s July 2019 dismissal of its second amended securities fraud suit seeking to hold Uber Technologies Inc. and its former CEO Travis Kalanick accountable for “reputational risks that threatened Uber’s growth.”
In a reply brief countering Uber’s arguments, the Irving fund…