Melbourne cabbies sue Uber for $500 million
Melbourne cab drivers are understood to be suing Uber for $500 million, claiming the ride sharing giant deprived them of their livelihoods.
The class action law suit, set to be filed in the coming weeks, will look to recover profits allegedly lost during Uber's operation in Melbourne prior to being legalised, the Herald Sun reports.
Drivers are also suing for damages, with a successful case expected to bring a payout of more than $500 million – the sum awarded to Black Saturday bushfire victims.
The case has already received $20 million in legal funding from UK-based Harbour Litigation Funding.
Uber first arrived in Australia in November 2012, but was not legal in Victoria until August 2017.
Taxi licenses peaked at $500,000 in 2010, but the inking of a deal between Uber and the Victorian government saw that price plunge to $55, making it more accessible for drivers.
The deal has since seen the total amount of cabs in service swell from 5600 to 10,500.
The number of registered private hire cars operating under services like Uber also skyrocketed from 2800 in 2016 to 35,000, following Uber legalisation.