Uber's Australian subsidiary will pay AUD$272 million to settle a lawsuit from over 8,000 taxi and hire-car operators.

The lawsuit claimed losses due to Uber's market entry, impacting income and license values since 2019.

Uber confirmed the settlement but is withholding details pending court finalization.

Despite the settlement, Uber's stock fell 1.5% following the news, though it's up 28% for the year.

The settlement awaits court approval, concluding a five-year legal dispute.

Uber asserts it is now fully regulated across Australia and integrated into the nation's transport system.