- A former employee sues WeWork in court over $ 1.7 billion worth of golden parachutes reported by co-founder Adam Neumann Minority shareholders have the value of WeWork shares through their actions and options "eroded".
- "It's unclear why Neumann would pay $ 185 million for the company's strategic direction when his" leadership "led to virtual destruction." The lawsuit relates to the counseling fees allegedly contained in Neumann's resignation package ,
- Read more about Business Insider's WeWork coverage here.
A former employee brings WeWork to court Co-founder Adam Neumanns reported a golden parachute worth $ 1
Natalie Sojka's lawsuit accuses Neumann and other WeWork directors of committing themselves to the e xpense of minority shareholders, violation of their loyalty obligations, creation of corporate garbage, unjust enrichment, abuse of control, among other failures. The lawsuit filed this week with the San Francisco Superior Court cites Masayoshi Son, CEO of SoftBank, as a defendant.  In the context of the acquisition of the co-working startup by SoftBank after its listing Neumann is to receive for his action nearly $ 1 billion WeWork shares, $ 500 million loan for the repayment of personal loans and $ 185 million counseling fees, so the Wall Street Journal had to be withdrawn, and Neumann is offered a staggering $ 185 million consulting fee, though SoftBank apparently admits that Neumann ruined the company, "the lawsuit says.
" It's incomprehensible why Neumann would receive $ 185 million for the company's strategic direction when his "bias" led to the virtual destruction of the company, "the lawsuit says." The fee is merely an arbitrary and inappropriate personal payment to Neumann. " That's the claim.
WeWork, SoftBank and the law firm representing Natalie Sojka react Not immediately to requests for comments.
"WeWork believes this lawsuit is unfounded," a spokeswoman told Reuters on Friday.
Sojka worked for 17 months as an assistant to the management and then as a team leader at WeWork. During her time there, she received stock and stock options, and when she voluntarily resigned, she exercised the options to buy more shares after being told in the lawsuit that she would otherwise lose them.
Neumann's declared withdrawal package is "essentially unfair". and would "inflict significant damage" on minority shareholders as the value of their shares and stock options was "expelled" due to Neumann's wrongdoing. "
Sojka applies for a restraining order to prevent Neumann's exit business from occurring and beat for them and other minority shareholders filed a class action lawsuit