Drivers filed a federal class action lawsuit last week against so-called “driver-friendly” ride-hail apps Gett and Juno, alleging contractual breaches, intentional misrepresentations, false and deceptive advertising, and stock fraud.
When it first launched in New York City in April 2016, Juno positioned itself as the “anti-Uber,” promising better earnings and equity in the company to drivers. Drivers flocked to the app, instantly catapulting Juno to the top tiers of ride-hailing in New York City. But after it was acquired by the Tel Aviv-based Gett for $200 million earlier this year, Juno nullified its equity program with drivers, promising payouts to some drivers who had accumulated shares with the company.
But drivers say those payouts reflect a dramatic devaluation of their stock in the company, with some drivers receiving nothing for their shares and others being cashed out at less than 2 percent per share . In an email to drivers, Juno promised “a new cash incentive plan,” but drivers say the damage has already been done.
“I told people all the time that they should ride Juno,” said Mohammed Siddique, one of the named plaintiffs in the lawsuit, in a statement provided by his lawyer. “I would tell them that I had […]