WeWork founder threatens to sue SoftBank over scrapped $3B rescue deal

WeWork founder threatens to sue SoftBank over scrapped $3B rescue deal


WeWork co-founder Adam Neumann has threatened to sue his company’s biggest investor following the collapse of a billion-dollar rescue deal, The Guardian reports. Japanese tech conglomerate SoftBank Group said it had “no choice” but to go back on its offer to buy $3 billion in WeWork shares — money that would’ve mostly gone to shareholders. Neumann was to personally pocket almost $1 billion in the process. [Read: WeWork can be salvaged — but its turnaround plan isn’t enough] SoftBank cited multiple pending civil and criminal investigations in its decision to drop the deal, which had been pieced together in the fallout of WeWork‘s disastrous Initial…

This story continues at The Next Web
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