Uber Technologies, Inc (UBER) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Uber Technologies, Inc surfaced in its latest filing.

• California’s Assembly Bill 5 became effective January 1, 2020, and litigation asserts that it requires Drivers in California to be classified as employees.2020-01-01
• California voters approved Proposition 22 in November 2020, providing a framework for independent work, but legal challenges including constitutional challenges may continue.2020-11
• Massachusetts Attorney General filed a complaint in July 2020 alleging driver misclassification, resolved in June 2024 with drivers continuing as independent contractors.2020-07
• In France, the government is seeking social security contributions alleging Drivers are employees, issued a demand for contributions which Uber is challenging.
• In Brazil, binding judicial cases including a case pending before Brazil’s Supreme Court with a hearing expected in 2026 could provide broader guidance on independent contractor framework.2026
• French Supreme Court decisions in 2020 and 2023 reclassified two UberX Drivers as employees, followed by inconsistent appellate decisions and July 2025 decisions concluding Drivers were independent contractors under Uber’s more recent model.2025-07
• Netherlands court ruled in September 2021 that Mobility Drivers are employees within the meaning of the taxi collective bargaining agreement.2021-09
• Mexican Congress passed a bill in December 2024 to reclassify mobility and delivery earners making more than one minimum salary a month as employees.2024-12
• New Zealand Supreme Court ruled in November 2025 that four drivers are employees while logged into the Uber app.2025-11
• Uber formally recognized a UK driver union in May 2021.2021-05
• Massachusetts voters approved a ballot initiative in 2024 allowing drivers to collectively bargain as independent contractors.2024
• Acquired Cornershop, a provider of online grocery delivery in Mexico and Chile, to expand Delivery offering to grocery.
• In October 2021, acquired The Drizly Group, Inc. to further expand Delivery offering to alcohol.2021-10
• In November 2021, subsidiary Uber Freight acquired Transplace, expanding Uber Freight’s business through Transplace’s transportation management expertise.2021-11
• In September 2022, an attacker accessed certain internal corporate systems, tools and data.2022-09
• In October and November 2016, outside actors downloaded personal data of approximately 57 million Drivers and consumers worldwide, including names, email addresses, mobile phone numbers, and drivers' license numbers of approximately 600,000 Drivers.2016-10
• In April 2018, Careem disclosed a data security incident that allowed access to certain personal information of riders and drivers on its platform as of January 14, 2018.2018-04
• In January 2020, Uber introduced product changes in California providing Drivers with more trip information and fare transparency, which have resulted in reduced ride demand and Driver supply.2020-01
• The European Artificial Intelligence Act (AI Act) came into effect in August 2024.2024-08
• California regulation requires 90% of vehicle miles traveled by rideshare fleets in California to be in zero emission vehicles by 2030, with interim targets beginning in 2023.2023
• Subject to the EU Corporate Sustainability Reporting Directive adopted in December 2022.2022-12
• As of June 30, 2026, total outstanding indebtedness of $12.6 billion aggregate principal amount.2026-06-30
• In July 2026, executed a bridge credit agreement providing for €14.2 billion in aggregate commitments for senior unsecured loans in connection with the proposed acquisition of Delivery Hero.2026-07
• In January 2019, we suspended Mobility in Barcelona after regulations mandated minimum wait times; in March 2021, we returned to Barcelona via taxis only.2019-01
• New York City implemented a per-mile and per-minute minimum driver pay formula effective February 2019.2019-02
• New York City Council approved a one-year freeze on new for-hire vehicle licenses in August 2018, which remains in effect.2018-08
• San Francisco imposed a ridesharing surcharge via November 2019 ballot measure, effective January 1, 2020.2020-01-01
• Chicago imposed a surcharge of up to $3 per ridesharing trip effective January 2020.2020-01
• Washington state established a minimum pay standard for platform drivers in March 2022.2022-03
• In January 2020, we ceased Mobility in Colombia after a court ruled we violated competition laws; we appealed and re-launched in February 2020, and the Appeals Court revoked the block in June 2020, confirmed by the Supreme Court in 2023.2020-01
• In May 2021, California adopted a regulation requiring 90% of vehicle miles traveled by rideshare fleets in California to have been in EVs by 2030, with interim targets beginning in 2023.2021-05
• In September 2024, a constitutional reform to the judiciary in Mexico was approved, establishing that judges will be elected by citizens starting in June 2025.2024-09
• We divested certain assets of our dockless e-bikes and e-scooters business to Lime in May 2020.2020-05
• In April 2018, entered into an FTC consent decree requiring a comprehensive privacy program, biennial third-party assessments, and no misrepresentations on consumer information protection through 2038.2018-04
• In September 2018, entered into stipulated judgments with all 50 U.S. states and the District of Columbia relating to the 2016 Breach, involving payment of $148 million.2018-09
• In March 2022, Uber Technologies, Inc. and Uber B.V. were each fined €2.12 million by the Italian data protection authority for alleged privacy violations from a 2018 investigation.2022-03
• In July 2022, entered into a non-prosecution agreement with the DOJ concerning its investigation into handling of the 2016 Breach.2022-07