Uber Investors See Preliminary Settlement in Securities IPO Suit

Uber Technology Inc. investors have gained preliminary approval of a settlement to close class action claims, after alleging the company deceived them regarding its financial performance during its May 2019 initial public offering.

The court “will likely be able to approve the proposed Settlement as fair, reasonable, and adequate,” said Chief Judge Richard Seeborg in an order for the US District Court for the Northern District of California. The Aug. 9 order didn’t confirm certain previously released details in court filings, including the proposed $200 million figure reached to end the case.

• Settlement would end a five-year suit claiming IPO ...