UPDATE 1-Uber board sued for cutting corners on compliance, leading to sexual harassment suits

Uber Technologies,Inc.

Uber Technologies,Inc.

UBER

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Adds accusations, attempt to obtain comment

- Uber Technologies' UBER.N board was sued on Monday by shareholders, who accused management and directors of letting the ride-sharing company cut corners on compliance matters, leading to thousands of lawsuits from victims of sexual assault and harassment.

In a complaint filed in San Francisco federal court, shareholders led by a Detroit pension fund said board members ignored repeated internal and external warnings about Uber's alleged failure to address sexual abuse by drivers, as well as violations of the federal disabilities law.

The lawsuit said Uber's reputation has been "irredeemably damaged," with the board being told that fewer than 40% of users believe the company takes safety seriously.

"Uber is a serial compliance offender," the complaint said.

The so-called derivative lawsuit seeks to require directors to reimburse Uber for their alleged breaches of fiduciary duties and violations of federal securities laws. Chief Executive Dara Khosrowshahi is among the defendants.

Uber did not immediately respond to a request for comment.