A Delaware Court of Chancery judge on Wednesday sent to an arbitrator Benchmark Capital Partners’ lawsuit seeking to oust Travis Kalanick from Uber Technologies Inc.’s board, avoiding for the moment a public battle over the former CEO’s acquisition of three new board seats.
Vice Chancellor Sam Glasscock III issued the “rough-and-ready” ruling following more than an hour of sometimes heated argument in his Georgetown courtroom. Speaking from the bench, Glasscock said that a 2016 voting agreement between Kalanick and Uber’s other directors contained a clear provision that prevented the judge from granting Benchmark’s request to fast track the case in state court.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
