Uber Stock Slides as FTC Sues, Alleging ‘Deceptive’ Uber One Practices

Uber (UBER) shares fell Monday as the U.S. Federal Trade Commission filed a lawsuit alleging “deceptive billing and cancellation practices” related to the company’s Uber One subscription service.

The FTC accused Uber of charging consumers for Uber One without their consent, not delivering promised savings, and making it difficult for users to stop paying for the service. Uber One, which costs $9.99 per month, includes 6% back on rides and $0 delivery fees on Uber Eats, among other perks.

The FTC said Uber “obscures material information about the subscription” in part through the use of small, gray text that is easy to miss. Some consumers have complained that Uber enrolled them in the service without their consent, the FTC said. 

An Uber spokesperson told Investopedia, “we are disappointed that the FTC chose to move forward with this action, but are confident that the courts will agree with what we already know: Uber One’s sign-up and cancellation processes are clear, simple, and follow the letter and spirit of the law. Uber does not sign up or charge consumers without their consent, and cancellations can now be done anytime in-app and take most people 20 seconds or less.”

Shares of Uber slid 3% Monday, but have still added over a fifth of their value in 2025. The ride-hailing company plans to report its first-quarter earnings on May 7.