Bloomberg Law
July 30, 2020, 8:21 PM

WeWork Asks Judge to Dismiss SoftBank Suit by Two Directors (2)

Gillian Tan
Gillian Tan
Bloomberg News

We Co., the parent of WeWork, asked a judge to dismiss a lawsuit brought by two of its board members against SoftBank Group Corp. for reneging on a $3 billion offer to buy the co-working company’s closely held shares.

We Co.’s independent board members Alex Dimitrief and Frederick Arnold said the company’s special committee -- comprising Lew Frankfort and Benchmark’s Bruce Dunlevie -- “does not and should not have the authority” to pursue the litigation in the name of We Co., according to a Delaware Chancery Court filing. We Co. declined to comment outside of the filing. ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.