WeWork Must Give Directors Info on Bid to Drop SoftBank Suit

Two WeWork directors who sued SoftBank Group Corp. to compel a $3 billion investment it scuttled can see privileged company files relating to SoftBank’s influence on a newly formed board committee that has sought to have the lawsuit dismissed, a Delaware judge ruled.

“It is the board of directors of a corporation—not management—that has the ultimate responsibility for overseeing the affairs of the corporation,” Chancellor Andre G. Bouchard wrote. “In claiming the right to shield company privileged information from the entire board, management turns these bedrock principles of Delaware law on their head.”

The ruling of first impression concerns the ...