1. WeWork is Set to Vote on Adding 2 New Independent Board Members After Big Investors Suing SoftBank Unsuccessfully Tried to Stop It

    WeWork is Set to Vote on Adding 2 New Independent Board Members After Big Investors Suing SoftBank Unsuccessfully Tried to Stop It
    • WeWork's board is set to vote on Friday to add two temporary independent directors to the SoftBank-controlled board.
    • The duo, who bring deep business and legal expertise, would decide whether the current lawsuit against SoftBank can continue.
    • A pair of current board members – the only non-SoftBank-affiliated directors – contested the additions in court on Wednesday, arguing that the process would hurt WeWork's minority shareholders...
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    1. WeWork is pursuing best practices of corporate governance to determine what role if any WeWork should have in this contractual dispute among its shareholders. The court's decision today allows that process to go forward.
    2. The Special Committee seeks to entrench itself, securing a blank check drawn from WeWork's treasury to fund litigation benefiting its members and other tendering stockholders.
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