WeWork co-founder Neumann sues SoftBank over failed tender offer

WeWork co-founder Neumann sues SoftBank over failed tender offer

FILE PHOTO: Adam Neumann, chief executive officer of U.S. co-working firm WeWork, speaks during a signing ceremony in Shanghai, China April 12, 2018. Picture taken April 12, 2018. Jackal Pan via REUTERS/File Photo

WeWork co-founder Adam Neumann filed a lawsuit against Japan’s SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup’s shareholders.

The tender offer was part of a $9.6 billion rescue financing package that SoftBank agreed with WeWork in October and gave it control of the company. Since then, WeWork’s occupancy rates have plummeted amid the COVID-19 pandemic.

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