SoftBank Settles WeWork Lawsuit; Neumann Exits With Windfall
- Deal removes need for trial scheduled to begin next week
- End of legal battle solidifies SoftBank’s control of startup
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WeWork Cos. and co-founder Adam Neumann reached a legal settlement with SoftBank Group Corp. that will cement control of the embattled real estate startup with its largest investor and send the former chief executive officer on his way with a financial windfall.
The pact announced Friday ends a legal fight over a stock transaction that collapsed and eliminates the need for a March 4 trial in Delaware. Terms of the settlement weren’t disclosed.