Uber IPO: Uber may owe another $128 million to Google

An earlier version of this story had an incorrect number, $227 million, in the headline. It has since been updated.

One year after settling the blockbuster Uber vs. Waymo lawsuit, Uber may be on the hook for another $128 million to Google stemming from two separate but related legal issues, according to a disclosure in Uber’s S-1 filing to go public.

On March 26, Uber’s VP of Engineering Anthony Levandowski was found liable for $127 million, according to the Uber S-1. Levandowksi and Lior Ron, his cofounder at trucking startup Otto, are also jointly liable for a second $1 million award to Google, according the filing. Otto was purchased by Uber in 2016.

The awards stem from two separate arbitration demands: Google v. Levandowski & Ron, and Google v. Levandowski. Uber may be liable to pay out the awards because the company previously agreed to cover the pair’s legal fees.

The $128 million in awards follow allegations made by Google in October 2016 that Levandowski and Ron broke their employment agreements with Google, and committed fraud related to proprietary self-driving car LIDAR technologies.

Read more: Uber spent $3.3 billion on acquisitions in 2018 and 2019 — 10-times more than Lyft

The total cost of those awards could go up significantly if the panel decides to award Google more money to compensate for the costs associated with its lawsuits, including attorney’s fees, according to the S-1.

Uber already settled with Waymo

Uber already paid Google’s self-driving car unit an award in a separate but related lawsuit, Uber vs. Waymo. The companies settled after Uber agreed to pay Waymo $245 million in equity.

That settlement saw Waymo awarded 0.34% of Uber equity pegged to a $72 billion valuation for the ride-hailing company, a person familiar with the settlement told Business Insider at the time. Uber is reportedly expected to IPO with a valuation close to $100 million, which means that today that equity is worth even more.

Because Uber had previously agreed to cover Levandowski and Ron’s legal fees, the company said in its filing that it may be obligated to cover their awards owed to Google as well.

However, the company also said it may contest its obligations here.

Uber declined to comment. Google was not immediately available for comment.

More from Uber’s IPO filing:

Uber has filed to go public in what could be the biggest IPO in years

‘I won’t be perfect, but I will listen to you.’ Uber CEO outlines the company’s ‘enormous’ opportunity while acknowledging its turbulent past in letter to investors

Source

more recommended stories

  • Wall Street banks juniorization – Business Insider

    Junior bankers are taking over Wall.

  • Tesla board of directors changes: Buss, Rice, Jurvetson, Gracias are leaving

    Tesla on Friday announced four members.

  • “Jeopardy!” champions use statistics and game theory to win millions

    Just making it onto the show.

  • BuzzFeed struggling to defend Trump-Cohen scoop after Mueller report discredited it

    When BuzzFeed reported on January 17.

  • A Google employee in Silicon Valley has reportedly been diagnosed with measles

    Google, which has faced criticism for.

  • Pinterest prices IPO – Business Insider

    Pinterest, the self-described “visual discovery” platform,.

  • Alexandria Ocasio-Cortez, Andy Barr coal mine visit falls apart

    A trip that would have shown.

  • Facebook uploaded 1.5 million users’ email contacts without permission

    Facebook harvested the email contacts of.

  • $85,000 bet on Tigers Woods that won $1.2 million was man’s first sports bet

    When Tiger Woods won the Masters.

  • Libratone Zipp 2 Smart Wireless Speaker review: Portable smart speaker

    Insider Picks writes about products and.

  • Bernie Sanders releases 10 years of tax returns after weeks of delays

    Sen. Bernie Sanders on Monday released.

  • How to clear out your Gmail by bulk deleting old emails

    I arrived at work on Monday.

  • El Chapo Guzman in a US jail as El Mayo and Sinaloa cartel fight CJNG

    Former Sinaloa cartel kingpin Joaquin “El.

  • Tiger Woods’ new girlfriend Erica Herman shows up to big tournaments

    Tiger Woods has been dating 33-year-old.

  • Emmanuel Deshawn Aranda: alleged Mall of America pusher has chaotic record

    Authorities say a five-year-old boy who.

  • Watch SpaceX Falcon Heavy’s second launch

    SpaceX has launched the most powerful.

  • Michael Avenatti allegedly stole $3 million from client with paraplegia

    As part of a 36-count indictment.

  • Salesforce bought CEO Keith Block a $212,000 car and an $86,000 watch

    Salesforce co-CEO Keith Block was awarded.

  • PagerDuty raises IPO price range

    IT unicorn PagerDuty raised its IPO.

  • Facebook ‘Watch Party’ feature is popular with pirates for movies, shows

    Facebook’s new video-streaming feature, Watch Party,.

  • JetBlue shares soar after report it may launch European flight service

    JetBlue appears to be gearing up.

  • San Diego hospital allegedly secretly filmed female patients

    When Eileen Brandt first woke up.

  • DCMS white paper: UK lays out proposed laws to regulate social media

    The internet’s days as the Wild.

  • Kirstjen Nielsen out as Trump’s Homeland Security Secretary

    Kirstjen Nielsen is out as secretary.

  • Kirstjen Nielsen is out: People who left, were fired from Trump administration

    Nikki Haley, the US Ambassador to.

  • Boeing 737 design quirk may have complicated Ethiopian Airlines flight

    Ethiopia’s Aircraft Accident Investigation Bureau (AIB).

  • Amazon paid $97 million for Eero in fire sale that left some with almost nothing

    Amazon paid $97 million to acquire.

  • Elon Musk was accused of shoving, threatening to ‘nuke’ ex-Tesla employee: report

    Tesla CEO Elon Musk was involved.

  • TV shows to watch on Netflix this week

    Netflix features hundreds of TV shows.

  • Colombia rejects Russia warning against Venezuelan military action

    BOGOTA (Reuters) – Colombia on Tuesday.

  • Democratic lawmaker asks IRS for 6 years of Trump’s tax returns

    US House Ways and Means Committee.

  • Reasons it’s hard to measure violence and homicide rates

    The most recent ranking of the.