Los Angeles, California, Apr 02, 2020 (Newsfile Corp via COMTEX) -- Los Angeles, California--(Newsfile Corp. - April 2, 2020) - The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The We Company a/k/a WeWork ("We Co." or "the Company") for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Wall Street Journal published an article titled "WeWork Employee Options Underwater as Ex-CEO Reaps," on October 23, 2019. The article includes the fact that We Co.'s founder and CEO, Adam Neumann, "stands to receive up to $1.7 billion as part of a deal with SoftBank Group Corp. to step away from office-space startup WeWork." The article continues by stating that the agreement "calls for SoftBank to buy WeWork's private shares from investors and some employees at $19.19 each, a fraction of the $110 a share price reached in January, when WeWork was valued at $47 billion." Bloomberg reported on November 15, 2019, that the Company is "drawing scrutiny from the U.S. Securities and Exchange Commission over whether the co-working company violated financial rules in the run-up to its failed initial public offering," and that the SEC's "enforcement division is reviewing WeWork's business and its disclosures to investors." Reuters reported on November 18, 2019, that the Company is facing an investigation by the New York State Attorney General to determine "whether WeWork's founder and former chief executive, Adam Neumann, indulged in self-dealing to enrich himself."
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at email@example.com .
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.
The Schall Law Firm
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