WeWork Committee Dealt Blow To Control Over SoftBank Suit

By Rose Krebs (May 27, 2020, 10:04 PM EDT) -- The Delaware chancellor Wednesday denied a bid by a special WeWork committee to bar the company from appointing a new committee to consider whether it has standing to proceed with a suit filed against SoftBank Group Corp. over a canceled deal to buy $3 billion of WeWork's shares.

During a hearing held via telephone, Chancellor Andre G. Bouchard said he would leave the door open for the special committee to challenge any future decision affecting its authority to pursue the derivative suit.

"I will not wade into the merits of this application at this time," the chancellor said. The special committee's...

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