Investors in ride-hailing giant Uber have filed a class-action lawsuit against the company’s board of directors, alleging that they have turned a blind eye to sexual assaults and other incidents on their platform.

Investors Claim Compliance Cuts Have Led to Thousands of Lawsuits

The Detroit-based pension fund is leading the charge against Uber’s board and management, claiming that they have compromised on compliance measures in an effort to avoid lawsuits. This alleged lack of oversight has resulted in thousands of civil cases against the company.

According to the lawsuit, Uber’s leadership team has been aware of the issues for years but has failed to take adequate action to address them. The plaintiffs claim that this negligence has led to a significant increase in complaints and lawsuits, which have had a devastating impact on the company’s reputation and finances.

The lawsuit also highlights the role of Uber’s board in approving key executives who were accused of misconduct. The plaintiffs argue that this lack of accountability has contributed to the company’s culture of tolerance for wrongdoing.

Uber’s Response

In a statement, an Uber spokesperson said that the company takes all allegations of misconduct seriously and is committed to creating a safe environment for its users. However, they stopped short of acknowledging any wrongdoing by the board or management team.

About the Lawsuit

The lawsuit seeks damages from Uber’s board and management for allegedly failing to protect investors’ interests. It also demands that the company implement new policies and procedures to prevent similar incidents in the future.