On Monday, the Federal Trade Commission (FTC) filed a lawsuit against Uber Technologies $UBER, accusing the rideshare giant of enrolling some subscribers into its Uber One membership program without their consent and making false claims about the service. Priced at $9.99 per month, Uber One promises users discounts on rides and food delivery, but the FTC alleges that the company misled customers regarding potential savings and the ease of canceling the service.

Uber Technologies Inc. $UBER experienced a significant rise in its stock price, reaching a three-month high after billionaire hedge fund manager Bill Ackman revealed his substantial investment in the ride-sharing platform. The announcement came via Ackman's social media post, highlighting his acquisition of approximately $2.3 billion worth of Uber shares.