Taxi owners sue New York City as Uber 'eviscerates' their industry

Yellow cabbies and financial backers tell court that authorities are bankrupting them by letting app-based drivers operate without the same costly licenses

New York taxi owners and the lenders behind some of them are suing New York City and its Taxi and Limousine Commission, saying the proliferation of Uber is destroying their businesses and threatening their livelihoods.

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