adam neumann wework

A former employee is taking WeWork to court over cofounder Adam Neumann’s reported $1.7 billion golden parachute.
Natalie Sojka’s lawsuit accuses Neumann and other WeWork directors of benefiting themselves at the expense of minority shareholders as their actions have “eviscerated” the value of WeWork stock and stock options.
“It is beyond comprehension why Neumann would be paid $185 million to provide strategic guidance to the company when his ‘guidance’ resulted in the virtual destruction of the company,” the lawsuit alleges, referring to the consultancy fees that are reportedly part of Neumann’s leaving package.
of Business Insider’s WeWork coverage here.

A former employee is taking WeWork to court over cofounder Adam Neumann’s reported $1.7 billion golden parachute.

Natalie Sojka’s lawsuit accuses Neumann and other WeWork directors of benefiting themselves at the expense of minority shareholders, breaching their fiduciary duty, creating corporate waste, unjustly enriching themselves, abusing control, among other failures. The suit, filed in San Francisco Superior Court this week, also names SoftBank CEO Masayoshi Son as a defendant.

As part of SoftBank’s takeover of the coworking startup following its scrapped public listing, Neumann is set to receive nearly $1 billion for his WeWork shares, $500 million in credit to pay off …read more


Source:: Businessinsider – Finance

      

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