INSUBCONTINENT EXCLUSIVE:
NEW YORK: WeWork officials, including co-founder and former Chief Executive Adam Neumann, are being sued by minority shareholders to recoup
losses as the shared workspace provider pulled its initial public offering and saw its value plunge more than 87 per cent.
In a proposed
whose New York-based parent, the We Company, shelved its IPO on Sept
30 after investors grew wary of its losses, its business model and its corporate governance
years.
She said that following her voluntary departure, she exercised stock options after being told WeWork intended to go public soon and
transactions with Softbank and Neumann, and restrict stock repurchases from minority shareholders
including as much as $970 million from Neumann.
The case is Sojka v Neumann et al, California Superior Court, San Francisco County, No