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Adam Neumann of WeWork sued for a package worth more than $ 1.7 billion



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A WeWork shareholder has brought the company to court for $ 1.7 billion ($ 1.3 billion) in favor of ousted co-founder Adam Neumann. GBP).

] Their claim is that the money granted to Mr. Neumann is "incomprehensible" and "inappropriate".

It accuses Mr. Neumann and WeWork investor Softbank of abusing control of the company to sign the deal at the expense of smaller companies.

WeWork called the allegations "unfounded."

The lawsuit marks the recent controversy over Mr. Neumann's relationship with the company. He resigned as Chief Executive in September after the company's efforts to raise funds through an IPO had collapsed, in part due to questions about his leadership.

After WeWork dropped its stock market plans, WeWork accepted a SoftBank financing package. This included the exit deal for Mr. Neumann, who agreed to divest the majority of his stock and resign from the board of directors.

WeWork is cutting its business and thousands of job cuts are expected. The value of its stock has fallen from previous investments to recent funding.

He informed investors that he intends to sell companies that are not part of his office leasing business, such as Wavegarden, which manufactures indoor surf pools.

] The lawsuit was filed before the San Francisco Superior Court by Natalie Sojka, who spent a year and a half with the company, receiving shares as part of her pay.

She has proposed her as a class action suit for herself and other minority shareholders.


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