WeWork Special Committee Sets the Record Straight Regarding its Authority to Represent the Best Interests of Minority Shareholders
ViacomCBS Inc. - Class A (VIACA)
Company Research
Source: Business Wire
Issues Statement and Sends Letter to WeWork Board of Directors Responding to SoftBank Letter NEW YORK--(BUSINESS WIRE)--The Special Committee (the “Committee”) of the Board of Directors (the “Board”) of The We Company (“WeWork”) today sent a letter to the Board of WeWork responding to the assertions by SoftBank Group Corp. and SoftBank Vision Fund (AIV M1) (collectively, “SoftBank”) that the Committee lacks the authority to represent WeWork and its minority stockholders in the pending litigation against SoftBank.The Committee issued the following statement:SoftBank is once again attempting to use its power as WeWork’s controlling stockholder to benefit SoftBank at the expense of WeWork’s minority stockholders. SoftBank’s latest maneuver attempts to prohibit the Special Committee, which was established and determined to be independent by the full WeWork Board in October 2019 to represent all of the Company’s minority stockholders, from enforcing the contract negotiated between SoftB
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