WeWork asks judge to dismiss lawsuit against SoftBank by two directors

FILE PHOTO: A WeWork logo is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri

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.

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