Ride-sharing company Uber has agreed to settle a long-running class-action lawsuit and compensate taxi and rental car drivers.
Uber will pay approximately $272 million to compensate taxi and rental car drivers who suffered losses when the ride-sharing company entered the Australian market.
A class-action lawsuit against Uber was expected to be heard in Victoria's supreme court on Monday, but judge Lisa Nichols threw out the case after the ride-sharing giant agreed to a $271,8 million settlement.
The decision comes at the end of five years since Maurice Blackburn lawyers launched the legal battle on behalf of more than 8 taxi and rental car owners and drivers.