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Drivers suing Juno for Securities Fraud. Class Action!

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SmittenKitten
2096 Rider
 Posted 4 years, 4 months ago

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."

https://www.forbes.com/sites/janetwburns/2017/06/20/ride-hail-drivers-in-nyc-are-suing-juno-for-securities-fraud/#36e2220a1b93

Comments

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    CasPer
    330 Rider
     4 years ago

    So much or the driver friendly company.  It was just complete baloney.

    They had the gull to call drivers their "family."  LOL.

    Show Hide  1 Reply
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      DFosterG11
      187
       4 years ago

      Their catch phrase was, 

      THE SOCIALLY RESPONSIBLE WAY TO RIDE

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    ant
    122 Rider
     4 years ago

    Daaaaaaaaaaaaaaamnn.... ouch.

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    CrazyCrayons
    146
     4 years ago

    That screenshot is precious.  They should use that in court.  

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    MelissaMyers
    139 Rider
     4 years ago

    Yeah,  you can follow the class action suit stuff here. 

    http://www.junolawsuit.com/

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    RelaxedRecliner
    57
     4 years ago

    the lawyer in the video is what I pictured Uncle Phil would be like in court.  RIP.

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    chawes
    756 Rider Guru
     4 years ago

    Wow this is crazy. I thought this was one of Juno's big differentiators. I can't believe they killed the program.

    Show Hide  2 Replies
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      kmcdonald1
      101
       4 years ago

      Gett paid $200Million for Juno.  What did they get as a resut?  Angry mob of drivers who will never drive for Gett?  What a huge waste of money.

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      joeyj
      423 Rider Driver
       4 years ago

      yeah but you have to admit itseemed like a crazy idea to begin with. not surprised they couldn't pull it off.

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    DFosterG11
    187
     3 years ago

    anyone know whatever happened to this?

    Show Hide  1 Reply
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      BiggestBallOfYawn
      36 Rider
       3 years ago

      They are still going strong. Must be doing something right and this obviously didn't bring them down.

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    gennu
    40 Rider
     4 years ago

    All rideshare companies are just like Uber, Uber jsut gets caught more...

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    mrfeeney
    23 Rider
     4 years ago

    oh man, I was fooled, I thought they might really be the real thing. so sad.