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WeWork sues SoftBank for reneging on $3bn tender offer

Lawsuit seeks damages for breach of contract and fiduciary duty

WeWork's lawsuit seeks the completion of the tender offer or compensatory damages from the investor.   © Reuters

NEW YORK -- WeWork filed a lawsuit Tuesday against SoftBank Group that accuses the Japanese investment powerhouse of breach of contract after it walked away from its promised $3 billion tender offer.

The legal complaint, filed in Delaware by WeWork parent The We Company, is also alleging SoftBank breached its fiduciary duty to WeWork’s minority stockholders. 

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