Forfeit board seat: Three Uber investors ask Benchmark

Battles among Uber stakeholders have spilled into public view; conflicts risk paralysing the firm

Three Uber Technologies investors said a lawsuit against co-founder Travis Kalanick was designed to “hold the company hostage” and asked Benchmark, the venture capital firm that brought the suit, to step down from the board.

The investors sent a letter Friday addressed to Benchmark, saying they opposed the suit, according to a copy reviewed by Bloomberg. The investors are Sherpa Capital’s Shervin Pishevar, Yucaipa Companies’ Ron Burkle and Maverick’s Adam Leber. They don’t hold seats on the board or a majority of the company’s stock, but the letter said they’re seeking other shareholders to add their signatures.

Battles among Uber stakeholders have