Uber has agreed to pay $178 million to settle a class action lawsuit brought by over 8,000 taxi and hire car drivers in Australia. The five-year lawsuit claimed that Uber's ride-hailing services deprived taxi drivers of earnings. The law firm behind the suit called it one of the most successful actions against Uber and a rare instance of the company settling. Uber had opposed the case and denied responsibility for drivers' losses at every stage. Uber has contributed to state taxi compensation funds since 2018 and views the deal as closing "legacy issues."
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00:00 It's Benzinga and here's what's on the block. Uber has agreed to pay $178 million to settle a
00:05 class action lawsuit brought by over 8,000 taxi and hire car drivers in Australia.
00:09 The five-year lawsuit claimed that Uber's ride-hailing services deprived taxi drivers of
00:13 earnings. The law firm behind the suit called it one of the most successful actions against Uber
00:17 and a rare instance of the company settling. Uber had opposed the case and denied responsibility
00:21 for drivers' losses at every stage. Uber has contributed to state taxi compensation funds
00:26 since 2018 and views the deal as closing legacy issues. The company says it's now regulated across
00:31 Australia and sees itself as a part of the transport sector. For all things money visit
00:34 Benzinga.com