May 10, 2019 / 8:07 PM / 14 days ago

Uber will pay up to $170 mln to settle U.S. driver arbitrations

Uber Technologies Inc said it will pay up to $170 million to settle the majority of more than 60,000 individual arbitrations involving U.S. drivers who claim they were misclassified as independent contractors instead of employees of the ride-hailing firm.

Uber disclosed the settlement on Thursday in a filing with the Securities and Exchange Commission amid its launch of one of the largest initial public offerings ever.

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