‘Uber Files’ Undermining Reputation Led to Stock Drop, Suit Says

Uber Technologies Inc. promised a new period of transparency after it went public but instead sat on internal records of corporate misconduct that caused its stock price to drop 5% after the documents’ recent disclosure, an investor says in a suit filed Tuesday in federal court in California.

The leaked cache of 124,000 records from 2013 to 2017 revealed “how Uber secretly met with various government officials and politicians to skirt laws and regulations around the world,” including President Emmanuel Macron of France, Dongping Cao alleges on behalf of a proposed class of investors. He filed the suit in the ...