SoftBank announces settlement with former WeWork CEO Neumann

Feb 26 (Reuters) – SoftBank Group Corp said on Friday it had reached a settlement with WeWork’s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019.

SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports earlier this week indicated the deal includes a nearly $500 million cut in Neumann’s payout from SoftBank. (Reporting by Shariq Khan in Bengaluru; Editing by Leslie Adler)

source: reuters.com