logo
Uber Alleges Inflated Injury Bills in Los Angeles Insurance Fraud Lawsuit

Uber Alleges Inflated Injury Bills in Los Angeles Insurance Fraud Lawsuit

Bloomberg4 days ago
Uber Technologies Inc. is suing a group of lawyers and medical providers in Los Angeles who it says have made fraudulent insurance claims that cost the company millions in legal fees — the third such lawsuit it's filed this year.
In the federal case, filed Monday in the central district of California, Uber accused the defendants of directing passengers to 'pre-selected medical providers' who submitted inflated bills to treat negligible or non-existent injuries from minor collisions between 2019 and 2024. Uber said the personal injury lawyers named in the case took advantage of a state-mandated $1 million rideshare insurance policy limit by fraudulently inducing 'significantly larger settlement payments.' In one case, it said, the medical bill was 10 times more than the norm.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SBI Life share: CLSA sees 20% upside on strong VNB margin and improving product mix
SBI Life share: CLSA sees 20% upside on strong VNB margin and improving product mix

Business Upturn

timean hour ago

  • Business Upturn

SBI Life share: CLSA sees 20% upside on strong VNB margin and improving product mix

CLSA bullish on SBI Life, margin expands to 27.4% in Q1, target set at ₹2,180 By Arunika Jain Published on July 25, 2025, 08:01 IST Last updated July 25, 2025, 08:05 IST CLSA has maintained an Outperform rating on SBI Life Insurance, assigning a target price of ₹2,180, which implies an upside of nearly 20% from the current market price of ₹1,817.00. The brokerage highlighted that SBI Life delivered a strong performance in Q1FY26, marked by a robust Value of New Business (VNB) margin of 27.4%, an improvement of 60 basis points year-on-year. The margin expansion was primarily driven by a favourable product mix, particularly a shift away from Unit-Linked Insurance Plans (ULIPs) toward higher-margin protection and non-par products. CLSA noted that while Annualized Premium Equivalent (APE) growth for the quarter stood at 9% YoY, it was partially dragged down by a flat performance in the agency channel. Despite this, management remains confident of achieving mid-teens APE growth for FY26, underpinned by channel diversification and better productivity. SBI Life continues to benefit from its strong distribution footprint, robust parentage, and improved product profitability, CLSA added. Disclaimer: The views expressed in this article are those of the brokerage firm (CLSA) and do not constitute investment advice. Investors are advised to consult a certified financial advisor before making any investment decisions. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]

Serve Robotics Guides for 60-75% Delivery Surge in Q2: Too Bold?
Serve Robotics Guides for 60-75% Delivery Surge in Q2: Too Bold?

Yahoo

time3 hours ago

  • Yahoo

Serve Robotics Guides for 60-75% Delivery Surge in Q2: Too Bold?

Serve Robotics SERV is betting big on growth. Following a first quarter marked by rapid fleet expansion and entry into new markets, the autonomous delivery startup has guided for a 60% to 75% quarter-over-quarter increase in delivery volume for the second quarter of 2025. This projection builds on a 75% jump seen between the first and last weeks of the first quarter as 250 third-generation robots came online in cities like Miami, Dallas, and Los bullish forecast reflects Serve's growing geographic footprint, merchant base, and improved robot utilization. The company now serves more than 1,500 restaurants—five times more than a year ago—and has increased its daily supply hours by more than 40% since the fourth quarter of 2024. With Atlanta set to launch in the second quarter and another 700 robots expected by the end of the third quarter, Serve aims to hit a 2,000-robot deployment by despite this momentum, questions linger. Revenues for the first quarter rose 150% sequentially to just $440,000, while adjusted EBITDA remained negative at $7.1 million. Although gross margins improved and Serve ended the quarter with $198 million in cash, the path to profitability remains uncertain. Additionally, the company is banking on software platform monetization and long-term tech licensing, which are still in early guidance is undeniably ambitious. But in a competitive delivery landscape where scale, efficiency, and capital discipline matter, the company's ability to execute on this bold forecast will be a key test for investors in the quarters ahead. Facing the Competition: Can Serve Keep Pace With Uber and DoorDash? As Serve targets 60% to 75% delivery volume growth in the second quarter, it finds itself increasingly in the orbit of larger players like Uber Technologies UBER and DoorDash DASH. Both Uber and DoorDash have invested heavily in autonomous and last-mile logistics, testing robotic delivery in select markets and partnering with startups to accelerate through its Uber Eats segment, has piloted sidewalk delivery robots in collaboration with Cartken and Motional, aiming to reduce last-mile costs. Meanwhile, DoorDash is expanding its own robotic trials while leveraging its scale and logistics infrastructure to stay ahead. Serve may be more nimble, but Uber's global delivery volume and DoorDash's deep merchant network create serious competitive SERV aggressively scales its robot fleet, the question is whether it can compete on speed, reliability, and market coverage against giants like Uber and DoorDash. Their dominance could test Serve's ability to capture sustained share in urban delivery. SERV Stock's Price Performance & Valuation Trend Shares of this leading autonomous sidewalk delivery company have surged 79.7% in the past three months, significantly outperforming the Zacks Computers - IT Services industry, the Zacks Computer and Technology sector and the S&P 500 index, as you can see below. SERV Share Price Performance Image Source: Zacks Investment Research From a valuation standpoint, SERV trades at a forward price-to-sales ratio of 26.11, significantly higher than the industry's average, as shown below. SERV Valuation Image Source: Zacks Investment Research Earnings Estimate Trend of SERV Stock SERV's bottom-line estimates for 2025 have remained unchanged at a loss of 93 cents over the past 30 days. The estimated figure for 2025 implies a decline from a loss of 67 cents per share reported a year ago. SERV's Earnings Estimate Revision Image Source: Zacks Investment Research SERV stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Serve Robotics Inc. (SERV) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research

Apartment deal flow falls 14% in Q2
Apartment deal flow falls 14% in Q2

Yahoo

time3 hours ago

  • Yahoo

Apartment deal flow falls 14% in Q2

This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Dive Brief: Apartment sales volume fell 14% year over year to $35.1 billion in the second quarter, according to a report that data firm MSCI Real Assets shared with Multifamily Dive. However, they rose 5% to $66.6 billion in the first half of the year. Unlike the Q2 2024, no major entity-level deals closed in 2025. Last year, New York City-based investment manager Blackstone took Denver-based Apartment Income REIT Corp. private for approximately $10 billion, which drove transaction volume. The Real Capital Analytics commercial property price indexes ticked up 0.1%, according to MSCI. Cap rates have remained flat at 5.7% over the past year. Dive Insight: In its monthly report, MSCI acknowledged that the headline sales numbers for 2025 appear unfavorable. But if you dig a little deeper, things are more promising. 'The reality, though, is that the market is still the largest, most liquid component of the commercial real estate market in the U.S., with deal volume just below pre-pandemic levels,' MSCI said in the report. 'The decline for the quarter was an artifact of one big deal in the same quarter last year.' Individual asset sales, often considered the bedrock of multifamily transactions, rose 15% YOY in Q2 to $28 billion. In the five years before the pandemic, apartment trades averaged $29 billion in Q2. In the six major metropolitan areas of Boston; New York City; Washington, D.C.; Los Angeles; San Francisco; and Chicago, individual sales increased 6% to $6.7 billion in Q2. In the non-major metros, activity for these deals increased 18% YOY in the quarter on sales of $21.3 billion. Portfolio sales fell 57% to $7.1 billion in Q2. No portfolio was traded for more than $1 billion, with the six largest priced at more than $400 million. Apartment investors say the transaction market slowed noticeably after President Donald Trump's tariff announcements in April. 'We're dealing with tariffs,' Jim Brooks, president of Los Angeles-based real estate investor BH Properties, told Multifamily Dive. 'We're dealing with elevated interest rates, and not a lot of cuts are projected. So there is a high cost of capital. Things have gotten slower on the capital market side.' However, Brooks remains hopeful that things will pick up for his firm, partially because institutional investors are still not fully back in the market. 'We're optimistic, just given the way we're capitalized and the way we can operate,' Brooks said. 'Privately capitalized investment groups should have their moment in the sun before institutional capital comes flooding back in.' Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store