An investigation for investors in WeWork Inc. (NASDAQ: WE) shares over potential securities laws violations by WeWork Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/05/2023 -- An investigation was announced for investors of WeWork Inc. (NASDAQ: WE) shares over potential securities laws violations by WeWork Inc.
Investors who purchased shares of WeWork Inc. (NASDAQ: WE), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by WeWork Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
WeWork Inc. offers flexible workspace solution to individuals, and small and large enterprises worldwide. In October 2021, WeWork Inc. went public through a special purpose acquisition "SPAC" merger with BowX Acquisition Corp.
On December 1, 2021, WeWork Inc. (NASDAQ: WE) disclosed in an SEC filing on December 1, 2021, that it will restate its financial results for 2020 and the first three quarters of 2021. WeWork Inc. said that the company would be restating its financial results for 2020 and the first three quarters of 2021 due to a misclassification of Public Shares that led to "a material weakness in internal control over financial reporting."
On August 8, 2023, WeWork Inc announced that it will proceed with a 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock following approval by its Board of Directors and within the ratio range previously authorized by shareholders at the annual meeting of WeWork shareholders on June 12, 2023.
Shares of WeWork Inc. (NASDAQ: WE) declined to as low as $0.106 per share on August 23, 2023.
Those who purchased shares of WeWork Inc. (NASDAQ: WE) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.