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SoftBank Says Neumann Plans to Sue Over Failed WeWork Deal

  • Ex-WeWork CEO ‘intends to file a complaint’: SoftBank attorney
  • WeWork special committee defends its authority to sue SoftBank
Adam Neumann
Adam NeumannPhotographer: Michael Nagle/Bloomberg
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WeWork co-founder and former Chief Executive Officer Adam Neumann intends to file suit against SoftBank Group Corp. for reneging on a $3 billion offer to buy shares in the co-working company, according to a letter from the Japanese investor’s attorney.

The statement came in an April 17 email to the board of We Co., in which SoftBank’s lawyer said that a similar lawsuit filed earlier this month by a special committee -- consisting of two independent directors -- lacked authority.