Uber Technologies Inc. seeks a market valuation from $35 to $40 billion amid a statewide ban

Uber Technologies Inc. has been forced to temporarily suspend its service in Nevada because of a state court ruling, marking the first statewide ban, which the company has faced in the U.S. A preliminary injunction was issued by the court and prevented the U.S.-based company from its statewide operations across the state. The injunction was received by Uber only a month after its driver-hailing application and services were released there.

The company said in a statement, cited by the Financial Times: “It’s unfortunate that Nevada is the first state in the nation to temporarily suspend Uber – that means nearly 1,000 jobs just disappeared overnight and those residents lost their ability to earn a living. On the eve of Thanksgiving – when Nevadans should be celebrating with family, now many are worried about how they’re going to pay their bills.”

Uber is currently seeking to attract more supporters to sign a petition, which calls on the Governor of Nevada as well as the attorney-general for a change in the law and allow its ride-sharing application on the territory of the state.

As reported by NBC News, the company also added: “We remain committed to working with Nevada’s leaders to create a permanent regulatory framework that affords Nevadans the flexibility and innovation offered by Uber.”

The preliminary injunction comes at a time, when Uber Technologies investors are trying to prove that the car-booking company could be valued at as much as $40 billion. Such a market value would be larger than the that of Twitter, for example, and as large as the one of Delta Airlines Inc.

According to people with knowledge of the matter, who asked not to be named because the information is still not public, Uber, which has been founded half a decade ago, is close to raise a round of financing that would give it a valuation within the range of $35 to $40 billion.

If the funding is finalised, Ubers $17 billion value from the financing round, that took place in June 2014, would be more than doubled.

The state of Nevada has been one of the last ones, which resisted against ride-sharing services after a number of companies, including Uber, Sidecar and Lyft, were reported to have expanded rapidly across their home market.