SoftBank attempted to delay WeWork's $3 billion share purchase: court filing

By Joshua Franklin and Anirban Sen
(Reuters) - SoftBank Group <9984.T> CEO Masayoshi Son told the executive he tasked to turn around WeWork after its botched initial public offering to "use whatever excuse" to delay a $3 billion payout to the office-sharing startup's shareholders, a court transcript released on Wednesday showed.
The transcript, part of a Delaware court filing, provides new details on the decision by SoftBank to scrap a $3 billion tender offer to repurchase stock from existing shareholders, including founder Adam Neumann and employees.
A WeWork board committee that negotiated the tender offer sued SoftBank in April over that decision, accusing the Japanese company of "buyer's remorse" amid the coronavirus outbreak.
The transcript includes an undated text exchange between Son and Marcelo Claure, who he installed as WeWork's executive ...


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