Uber rejected a $500 million settlement from Waymo earlier this week: report


Waymo, the self-driving unit of Google parent Alphabet, proposed a settlement of $500 million to Uber earlier this week, but the ride-hailing company’s board of directors rejected the deal, according to a report from Reuters, which was confirmed by sources familiar with the case. On Friday, the two companies settled their acrimonious lawsuit over stolen self-driving car secrets. The price tag: a much more reasonable $245 million in Uber stock, and a promise not to use Waymo’s trade secrets in any of Uber’s autonomous technology.

This wasn’t the first time Uber turned up its nose at a proposed settlement from Waymo. The Google spinoff had originally sought at least a $1 billion and a public apology from Uber last year before the trial...

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via The Verge - Tech Posts "http://ift.tt/2EUeU50"

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