Uber agrees to suspend operations in Portland post lawsuit

Uber has agreed to suspend services for three months in Portland while officials revise regulations governing taxis and ride-sharing apps, the company said.

Uber said on Thursday that it will cease to operate on Sunday evening and resume services on April 9, even if the new rules are not in place, reported CNET.

A statement released by the company said that the web-based taxi service was "dedicated to curating and continuing a valuable and constructive relationship with Portland's lawmakers" and is working to create a regulatory framework that applies to "everyone."

The deal comes just a week after Portland banned Uber because it failed to comply with its licensing laws for taxi services.