Softbank Group Corp. /zigman2/quotes/207137761/composite SFTBY +3.42% /zigman2/quotes/207303954/delayed JP:9984 +4.30% responded Tuesday to WeWork parent We Co.'s lawsuit, saying it plans to "vigorously defend" the suit as nothing in the filing credibly refutes the decision to terminate the tender offer. "Their filing today is a desperate and misguided attempt now to rewrite that agreement and to rewrite the history of the past six months," a Softbank spokesperson wrote in an emailed statement to MarketWatch. Earlier Tuesday, We Co. said it was suing Japan-based holding company Softbank alleging the failure to consummate the $3 billion tender offer for WeWork shares was a breach of contract and of Softbank's fiduciary duty. In Softbank's response, the spokesperson said several requirements for completing the tender offer were not met as of April 1. "Softbank remains full committed to the success of WeWork, and the five-year business and strategic plan to secure its profitable future," the spokesperson added. Softbank's U.S.-listed shares, which rose 2.5% in afternoon trading, have lost 10.5% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.23% has declined 17.1%.