WeWork sues SoftBank over 'AWOL' $3bn shares purchase – which included millions lined up for ousted CEO Neumann theregister.co.uk

WeWork sued SoftBank on Tuesday after the Tokyo-based holding company nixed its plan to purchase $3bn in shares of the struggling office-leasing biz from existing shareholders.
As it walks away from that purchase plan, Softbank doesn't have to carry out the $1.1bn debt financing it promised for WeWork, either.
The deal to buy WeWork shares was formulated when the struggling rental biz withdrew its IPO in September.
A revised deal with Softbank included a series of transactions including debt financing, accelerated funding, and the purchase of shares.
WeWork's effort to force SoftBank to purchase its shares won't work, SoftBank's spokesperson insisted.