SYDNEY (NEWSnet/AP) — Rideshare company Uber will pay $178 million to settle a long-running dispute with taxi and drivers affectedwhen the company entered the Australia market.

A class action lawsuit against Uber had been expected to go to trial in the Supreme Court of Victoria on Monday, but Maurice Blackburn Lawyers, representing 8,000 drivers, said the case will be dropped because Uber agreed to the financial settlement.

Michael Donelly, principal lawyer for Maurice Blackburn, said drivers and car owners suffered financial losses due to Uber’s entry into the market in 2012 and that the company consistently attempted to avoid compensating them.

“On the courtroom steps and after years of refusing to do the right thing by those we say they harmed, Uber has blinked, and thousands of everyday Australians joined together to stare down a global giant,” he said.

An Uber statement described the complaints of the taxi industry as “legacy issues” and said rideshare regulations did not exist anywhere in the world when the company began more than a decade ago.

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