WeWork co-founder Adam Neumann accuses SoftBank of abusing its power in new lawsuit

WeWork co-founder Adam Neumann accuses SoftBank of abusing its power in new lawsuit

4 years ago
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https://techcrunch.com/2020/05/04/wework-co-founder-adam-neumann-accuses-softbank-of-abusing-its-power-in-new-lawsuit/

WeWork co-founder Adam Neumann accused SoftBank Group of abusing its power in a new lawsuit filed Monday that alleges breach of contract and breach of fiduciary duty for pulling a $3 billion tender offer for WeWork shares.

The lawsuit, filed in Delaware Court of Chancery, included a motion to consolidate his case with a lawsuit filed last month by a Special Committee of WeWork’s board. Both lawsuits focus on Softbank Group and its Vision Fund’s decision to back out of a deal to buy shares of the co-working company.

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