SFTBY - WeWork directors allowed to continue suit over SoftBank's stock repurchase exit

A Delaware judge agreed to remove some claims but wouldn't throw out the entire suit, as SoftBank ([[SFTBF]],[[SFTBY]]) and WeWork (WE) had requested.The judge said the two independent WeWork directors had filed valid complaints over SoftBank backing out of a $3B stock purchase, which was part of the bailout package after WeWork's failed IPO.After the directors launched the legal battle, a second committee was formed at WeWork that decided the suit should be dropped because the first committee didn't have the authority to sue. The judge disagreed with that opinion.The judge did dismiss claims that SoftBank had violated its fiduciary duties by backing out of the deal.Previously: WeWork directors seek right to continue SoftBank fight (May. 11 2020)

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WeWork directors allowed to continue suit over SoftBank's stock repurchase exit