Uber Shares Hover Near Low as Investors Sue Post-IPO

Shareholders claim in a class action that in the lead-up to its initial public offering, Uber Technologies Inc. failed to warn investors about “rapidly increasing subsidies for customer rides and meals in a bid for market share” while “at the same time, cutting (or planning to cut) costs in key areas that undermined Uber’s central growth opportunities.”

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Court Tosses Suit Over Self-Reported Exec Misconduct at LendingClub

A derivative action against online loan platform LendingClub Corp. alleging that the company’s board of directors breached its fiduciary duties was dismissed in Delaware Chancery Court  after investors failed to prove that the board acted in bad faith after self-reporting misconduct to the Securities and Exchange Commission. 

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