Uber is on the brink of going into receivership, with investors looking to get rid of the ride-sharing service.
A group of investors in the California-based ride-hailing company has filed a complaint with the Federal Trade Commission.
The FTC said Uber is violating FTC rules by not disclosing how much it is charging drivers in its app, including how much drivers are charged for each mile they drive.
Uber also has to disclose its drivers’ average salary, how many drivers are on the team, how much revenue Uber is making and how much profit it’s expected to make.
“We are committed to working with the FTC and will vigorously defend our rights, including our First Amendment rights,” Uber said in a statement.
After Uber lost $1 billion in its third quarter, it filed for Chapter 11 bankruptcy protection in June, which allowed it to avoid paying drivers for their rides.
This article has been updated to include Uber’s earnings and the company’s stock price.
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