Uber has suffered a series of setbacks in recent months,
including a federal probe into its use of technology to evade
regulators in certain cities and a trade secrets lawsuit filed
by Alphabet Inc's <GOOGL.O> self-driving unit, Waymo.
Chief Executive Travis Kalanick also resigned in June, pressured
by accounts of a corporate culture of sexism and bullying.
Vanguard Group, Principal Funds and Hartford Funds marked down
their shares in Uber, which is not listed, by 15 percent to
$41.46 a share in June, filings from the companies showed.
T. Rowe Price Group Inc <TROW.O> cut the estimated price of Uber
shares by more than 12 percent to $42.73 during the second
quarter ended June 30.
Another investor, Fidelity Investments, appeared to have
maintained its estimate of $48.77 as of June 30.
Vanguard spokeswoman Arianna Stefanoni Sherlock declined to
comment on the reasons for the reduced valuation.
Representatives for the other mutual fund companies and Uber
could not be reached immediately for comment.
Uber was most recently valued last year at $68 billion. Amid
non-stop controversy, it has upended the tightly regulated taxi
industry in many countries and changed the transportation
landscape.
The new estimates for Uber shares were first reported by the
Wall Street Journal.
(Reporting by Trevor Hunnicutt and Laharee Chatterjee; Editing
by Sunil Nair and Edwina Gibbs)
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