Office-sharing giant WeWork sued SoftBank on Tuesday alleging that Japan-based technology investment group breached its contractual commitments by pulling out a $3 billion rescue plan. The case filed in a U.S. court in Delaware comes only days after SoftBank announced it was pulling out of the plan to acquire WeWork shares and shore up the […]
WeWork filed a lawsuit in the US against SoftBank for breaching the contract.more
SoftBank Group is contemplating retreating out of a $3 billion bid to buy additional shares in WeWork because it thinks the office-space sharing business has not fulfilled the conditions of the contract, said people familiar with the matter on March 17. The U-turn by SoftBank will be the latest blow to WeWork investors, who saw […]
SoftBank Group plans to pull out $3 billion additional shares bid in WeWork.more On Wednesday, the WeWork owner declared a net loss that has been more than doubled to $1.25 billion in the third quarter, as the company’s operator added a record number of desks to its global network but was unable to control rising costs. In the quarter ended Sept. 30, WeWork opened 97 new sites, the […]
WeWork Company plans to remove non-performing sites as the net loss increases to $1.25 billion in Q3 2019.more