Juno, which is now a part of Gett, is getting massively sued by angry mob of NYC drivers. I had totally missed this as it was happening.
"CNBC reported today that a group of Juno drivers has filed a federal class action suit against the ride-hail company over its now defunct driver equity program, which allowed drivers who worked more than 30 hours a week for the startup to earn restricted company shares. Filed by three Juno drivers, who say they and others were lured to work for the startup by its promise of driver equity, the suit alleges breach of contract, securities fraud, and false advertising by the company."
"Juno's equity program was ended, and drivers who had accumulated company shares were notified by email that they would be automatically cashed out. As Recode reported in April, however, the payouts didn't pass muster for many drivers. Regardless of how many shares they'd accumulated, according to Recode, drivers have been receiving payments of approximately $100, whether it was for a few hundred shares or several thousand."
Check this out. This is messed up:
"Juno announced that drivers who had received shares in the Company would either: have those shared extinguished with no compensation, or receive an amount per share to be determined based on each driver, with each share not being valued the same, and being valued by Juno with no disclosure of the method of valuation."