Uber Technologies Inc. rejected conditions set by Alphabet Inc. unit Waymo to settle a legal dispute over the alleged theft of trade secrets, Reuters reported Oct. 12, citing sources with knowledge of the details.
While the exact timing of the offer could not be determined, Waymo had reportedly demanded nearly $1 billion in damages and a public apology from Uber. Waymo also demanded the appointment of an independent monitor to ensure Uber does not use its technology.
While an attorney representing Waymo declined to comment on settlement talks, she said the company only wants to stop the ride-hailing service from using its trade secrets. A representative for Uber declined to comment.
According to recent court filings, Waymo estimated its damages in the case to be about $1.86 billion.