WeWork, SoftBank face class action lawsuit by investors over WeWork's failed IPO

A group of investors filed a class action lawsuit against WeWork and SoftBank Group accusing the startup of overhyping its business plan and minimising losses to sell stock. WeWork did wasteful spending, not to sustainably grow business, but to raise capital at high valuations, the lawsuit said. The investors had bought WeWork's shares two-and-a-half years before its IPO was cancelled.