WEWORK SHAREHOLDER ALERT - Andrews & Springer LLC Is Investigating WeWork For Potential Securities Violations and Breach of Fiduciary Duty
Tuesday, November 19, 2019 8:00 AM
WILMINGTON, DE / ACCESSWIRE / November 19, 2019 / Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential securities violations and breach of fiduciary duty claims against The We Company, Inc. ("WeWork" or the "Company").
On November 4, 2019, a WeWork investor filed a shareholder class action and derivative complaint in the California Superior Court, San Francisco County, against WeWork and its board of directors (the "Board") and Japanese conglomerate Softbank Group Corp. ("Softbank"). The complaint challenges Softbank's $1.7 billion pay package given to WeWork's founder, Chairman and CEO, Adam Neumann ("Neumann") following the Company's failed initial public offering ("IPO"). Softbank stands to greatly benefit from the proposed transactions because it is increasing its stake in WeWork by buying up shares depressed values which were created by the Board and Neumann's wrongdoing. Softbank is also attempting to further benefit from the Board's and Neumann's wrongdoing by attempting to commence a tender offer to buy out minority shareholders and thereby increase its control to approximately 80%.
A copy of the complaint is available from Andrews & Springer LLC or the Court. If you currently own shares of WeWork and would like to receive additional information and protect your investment free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/wework-class-action-investigation/ or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn - https://www.linkedin.com/company/andrews-&-springer-llc, Twitter - www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Craig J. Springer, Esq.
Toll Free: 1-800-423-6013
SOURCE: Andrews & Springer LLC