The impact of a lawsuit filed in California by Uber reached the City yesterday when an Aim-listed company revealed that it had been dragged into a long-running row between the American ridesharing app and its advertising agency. Nearly 40 per cent was wiped off the value of Taptica International after it said that it was one of up to a hundred companies subjected to a legal challenge by Uber Technologies, which is alleging fraudulent concealment, negligence and unfair competition. Taptica’s stock promptly slumped by 47½p to 83p, sending its market value down to £106 million. Taptica, which is based in Israel and listed in London in 2014, helps brands to reach potential customers through online advertising. It has 450 advertising clients, including Trainline, the travel…

Source: The Times June 11, 2019 23:03 UTC