00:00 It's Benzinga and here's what's on the block. Uber has agreed to pay $178 million to settle a
00:05 class action lawsuit brought by over 8,000 taxi and hire car drivers in Australia.
00:09 The five-year lawsuit claimed that Uber's ride-hailing services deprived taxi drivers of
00:13 earnings. The law firm behind the suit called it one of the most successful actions against Uber
00:17 and a rare instance of the company settling. Uber had opposed the case and denied responsibility
00:21 for drivers' losses at every stage. Uber has contributed to state taxi compensation funds
00:26 since 2018 and views the deal as closing legacy issues. The company says it's now regulated across
00:31 Australia and sees itself as a part of the transport sector. For all things money visit
00:34 Benzinga.com
