Thursday June 09, 2016

French Court Fines Uber, Executives For Illegal Taxi Service

It's a good thing that Uber got that $3.5 billion investment from Saudi Arabia earlier this month because it definitely makes paying fines like this a whole lot easier. Has anyone tallied up all the money Uber has spent on lawyers, fines and settlements? That would be an interesting number to see.

A French court fined Uber Technologies [UBERL.UL] 800,000 euros ($907,000) on Thursday for running an illegal transport service with non-professional drivers and slapped smaller fines on two of its executives in the first such criminal case in Europe. It was the first time executives from the world's most valuable venture-capital backed startup had gone on trial, although the company has become embroiled in many legal battles as it has expanded to 60 countries since its founding in 2009.