NEW
WeWork, now "The We Company," recently announced a takeover deal with the Company's largest shareholder, SoftBank. The deal follows on the heels of the Company's unsuccessful initial public offering, and has been described as "an extraordinary bailout". Although the deal removes WeWork founder and CEO Adam Neumann from the board, Softbank will grant Mr. Neumann a $185 million consulting fee, the right to sell up to $970 million of his stock, and a $500 million credit line to him that replaces one from a set of banks.
Meanwhile, the company plans to lay off thousands of staff. Further, the Softbank deal also calls for SoftBank to buy WeWork's private shares from investors and some employees at $19.19 each, leaving employees who were compensated in stock options with those options underwater. To obtain additional information, go to:
https://www.zlk.com/pslra-1/wework-loss-form
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky