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WeWork Co-Founder Neumann Nears Settlement With SoftBank (1)

Feb. 23, 2021, 12:19 AM

WeWork Co-Founder Adam Neumann is in advanced talks to settle his lawsuit against the co-working company’s biggest backer SoftBank Group Corp., according to people familiar with the matter.

Under the terms of the potential settlement, SoftBank would purchase half of the WeWork shares it originally agreed to buy in 2019, said one the people, who asked not to be identified because the talks are still private. That means Neumann would be able to sell close to $500 million in stock, and that SoftBank would pay about $1.5 billion overall. The shares are being sold at the same price ...

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