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WeWork Is Facing SEC Inquiry Into Possible Rule Violations

  • SEC is examining disclosures to investors, WeWork’s business
  • Agency review is preliminary, may not lead to enforcement case
Bloomberg business news
WeWork Said to Face SEC Probe Into Possible Rule Violations

WeWork is drawing scrutiny from the U.S. Securities and Exchange Commission over whether the co-working company violated financial rules in the run-up to its failed initial public offering, according to two people with knowledge of the matter.

The agency’s enforcement division is reviewing WeWork’s business and its disclosures to investors amid a number of news articles that highlighted potential conflicts of interest and the company’s aggressive fundraising, the people said. WeWork has retained Andrew Ceresney, a top Wall Street lawyer who previously headed the SEC enforcement unit, according to the people.