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What was Benchmark thinking?

Original story at TechCrunch• 10 mentions • 2 months ago

Yesterday, Benchmark, the powerful venture firm and a major Uber shareholder, filed a lawsuit against recently the company’s recently ousted CEO Travis Kalanick in a remarkable move. The suit seeks to remove Kalanick from the board, while eliminating three additional board positions that it says Kalanick sought (and won) approval for last year, partly by withholding crucial information from the board. The central issue: When Kalanick resigned as CEO, he also resigned from his board seat, but he quickly re-appointed himself to one of those outstanding and “fraudulently procured” seats, says Benchmark. It now alleges that Kalanick ultimately hopes to ...