Uber settles class actions
Uber has paid $84m in two class-action lawsuits brought by US drivers.
The ride-hailing app business announced it has settled cases in California and Massachusetts for $84m, which will rise to $100m if the company goes public and its valuation increases 150 per cent from its December 2015 valuation within the first year of the IPO.
The key issue the settlement sought to establish was whether drivers would be independent contractors or Uber employees. Drivers will remain independent contractors, though Uber will work "to create a drivers' association in both states."
Uber claimed it would "help fund these two associations and meet them quarterly to discuss the issues that matter most to drivers." ®