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Uber will pay out nearly $272 million to compensate taxi and rental car drivers who lost out when the ride-hailing company “aggressively” moved into the Australian market.
A class action against Uber was due to go to trial in the Victorian Supreme Court on Monday, but Maurice Blackburn Lawyers said it would be dropped after the ride-hailing giant agreed to the mammoth settlement.
It is the fifth largest class action in Australian history and holds Uber to account, five “grueling” years after lawyers launched the action on behalf of more than 8,000 owners and drivers taxis and rental cars, the law firm said.
Drivers and car owners have lost income and the value of their licenses due to Uber’s aggressive entry into the market and the company has tried to deny them compensation at every turn, said Michael Donelly, lead attorney for Maurice Blackburn.
Uber to pay nearly $272 million to compensate rideshare, taxi drivers in fifth-largest settlement in Australian history: shares
Lawyers argued that drivers and car owners had lost their income and the value of their licenses due to Uber’s aggressive entry into the Australian market (pictured, taxis in Sydney).
“On the steps of court and after years of refusal to do the right thing by those we claim to have harmed, Uber turned a blind eye and thousands of ordinary Australians came together to watch a global giant,” Mr. Donelly said.
“We are extremely proud to have succeeded today in holding Uber accountable, obtaining (…) a sum of $271.8 million which will finally put real money back into people’s accounts devastated.”
The class action succeeded where other cases had failed, including some brought in Victoria, Queensland and Western Australia against governments, Mr Donelly said.
The law firm expects the lawsuit to be officially dismissed Monday morning.