UBER IN­VESTORS CRIT­I­CIZE SUIT

The Denver Post - - BUSINESS -

Three Uber 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. Google cancels tow nh all. PALO ALTO, CALIF.» Google CEO Sun­dar Pichai has can­celed a Thurs­day in­ter­nal town hall meant to ad­dress gen­der dis­crim­i­na­tion af­ter em­ployee ques­tions for man­age­ment be­gan to leak on­line.

Pichai said in an email to staff that sev­eral Google em­ploy­ees be­came fear­ful for their safety and grew con­cerned about be­ing outed for speak­ing up at the town hall.

Bil­lion­aire apol­o­gizes for KKK com­ment. N.Y.» A bil­lion­aire AL­BANY, hedge fund man­ager has apol­o­gized for an on­line post say­ing that a black New York state sen­a­tor has “done more dam­age to peo­ple of color than any­one who has ever donned a hood” be­cause of her sup­port for teach­ers unions. Daniel Loeb is­sued a state­ment say­ing he re­grets the lan­guage he used in the Face­book post about Se­nate Mi­nor­ity Leader An­drea Ste­wart-Cousins, a Yonkers Demo­crat. The post was an ap­par­ent ref­er­ence to the white head­gear of the Ku Klux Klan. It was deleted late Thurs­day.

Mall o f Am eric atu rns 25.

» The big­gest mall in the MIN­NEAPO­LIS United States is cel­e­brat­ing its 25th an­niver­sary with cup­cakes and party hats. The 5.6 mil­lion square foot Mall of Amer­ica has more than 520 stores and 11,000 em­ploy­ees, gen­er­ates $2 bil­lion in eco­nomic ac­tiv­ity and has more than 40 mil­lion vis­i­tors a year.

Pen­ney’s sales down. Sales at es­tab­lished J.C. Pen­ney stores faded again dur­ing its most re­cent quar­ter, cap­ping a gloomy week for U.S. re­tail­ers. Pen­ney’s stock sunk be­low $4 Fri­day morn­ing.

U.S .r igs drop. HOUS­TON» The num­ber of rigs ex­plor­ing for oil and natural gas in the U.S. de­creased by five this week to 949. A year ago, just 481 rigs were ac­tive. Hous­ton oilfield ser­vices com­pany Baker Hughes said Fri­day Colorado’s rig count was un­changed.

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