Uber to Pay Waymo $245 million to Settle Dispute
Alphabet subsidiary Waymo settled with Uber in the midst of a trade secret infringement trial. This lawsuit originated when Waymo brought suit against Uber in 2017, alleging that former Waymo engineer Anthony Levandowski, who was hired by Uber to lead Uber’s self-driving car project, took with him thousands of confidential documents.
Uber will reportedly pay $245 million in shares to Waymo in order to settle the case, a settlement that took place just prior to the start of the fifth day of testimony.
“While we do not believe that any trade secrets made their way from Waymo to Uber, nor do we believe that Uber has used any of Waymo’s proprietary information in its self-driving technology, we are taking steps with Waymo to ensure our Lidar and software represents just our good work,” Uber CEO Dara Khosrowshahi said in a statement.
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02.13.18 | Trade Secrets | Gene Quinn