Last Thursday, Uber revealed that it had told Softbank of the breach prior to disclosing it with the public.

The Japanese company is currently in talks with the ride-hailing firm in a deal that would amount to as much as $10 billion, effectively buying out existing shareholders.

Uber said in its statement that it had a duty to inform Softbank, which was a potential investor, even though the information they had at the time was still incomplete.

Uber added that they only went public after completing the forensic investigation which gave them a more complete understanding of the facts.

  

Source: CNBC

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