SYDNEY, March 18 Reuters Uber has agreed to pay A271.8 million 178 million to settle a lawsuit brought by Australian taxi operators and drivers, who say they lost income when the ridehailing company moved into the country, a law firm said on Monday.

The settlement is Australia39;s fifthlargest, Maurice Blackburn Lawyers said in a statement.

The class action suit was filed in 2019 in the Supreme Court of Victoria state on behalf more than 8,000 taxi and hire car owners and drivers, accusing Uber of breaking laws requiring taxis and hire cars to be licenced.

Uber39;s 2012 arrival in the market took revenue from licenced taxi drivers while destroying the value of the licences they had paid for, according to the lawsuit.

Uber had said it never knowingly broke the law.

Uber fought tooth and nail at every point along the way, Maurice Blackburn Principal Michael Donelly said in a statement.

After years of refusing to do the right thing by those we say they harmed, Uber has blinked, he said.

An Uber spokesperson said in an email that the company had contributed to statelevel taxi compensation schemes since 2018 and with today39;s proposed settlement, we put these legacy issues firmly in our past.

Uber did not disclose the proposed settlement in its response.

Former lawmaker and taxi driver Rod Barton, a member of the class action, said the settlement vindicated his belief that Uber had knowingly avoided the country39;s taxi licencing rules.

They knew full well they…