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Source: Common Domain

Uber clears what looked to be an IPO roadblock with $20 million settlement

Wednesday 17:15 GMT

The suit, first filed in 2013 by Boston-area lawyer Shannon Liss-Riordan, sought to reclassify Uber drivers as employees — not contractors — who would be reimbursed by Uber for necessary business expenses, such as gas and insurance.

A five-year legal odyssey that could have threatened the future of ride-hailing services appeared to end quietly Tuesday, clearing one concern for Uber Technologies Inc. ahead of its initial public offering.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte