Deliveroo shares surge after a UK court rules its couriers are self-employed

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Shares of food delivery firm Deliveroo surged over 4% Thursday after a U.K. court ruled that its couriers are self-employed.

The company's share price on the London Stock Exchange climbed from £2.51 to around £2.64 on the back of the court ruling.

Some of the company's riders argue that they should be classed as employees, which would give them access to benefits like sick pay and holiday pay. But Deliveroo argues that the contractor model is a better fit as it gives riders the flexibility to work when they want, and for as long as they want.A Deliveroo courier rides along Regent Street delivering takeaway food in central London during Covid-19 Tier 4 restrictions.LONDON — Shares of British food delivery firm

 

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