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New York State Attorney General Investigating WeWork, Report Says

New York State Attorney General Investigating WeWork, Report Says

The investigation will look into allegations that co-founder and former CEO Adam Neumann benefitted from self-dealing, according to Reuters

CTech | 11:29  19.11.2019
Troubled coworking space company WeWork is now under investigation by the New York State Attorney General (NYAG), Reuters reported Tuesday.

The report comes just days after Bloomberg reported that the company is facing a preliminary U.S. Securities and Exchange Commission (SEC) investigation into possible violations regarding its failed attempt to go public in September.

Adam Neumann. Photo: Dan Kenan Adam Neumann. Photo: Dan Kenan Adam Neumann. Photo: Dan Kenan

Among the focuses of the NYAG investigation are allegations that co-founder and former CEO Adam Neumann benefitted from self-dealing.

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On Sunday, the New York Times reported that WeWork intends to fire at least 4,000 people as part of its recuperation plans, following the turmoil it has undergone in recent months after its plans to go public crumbled down in September.
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