Re:New York State Attorney General Investigating WeWork
by buboard on Wednesday November 20, 2019 @03:35AM
(#21582135)
What about those employees that did sell some stock at high valuations though?
Some employees were indeed able to sell shares twice along the way, just like Neumann was. The most recent sale opportunity, in January 2019, offered employees $54 per share if they sold their equity to SoftBank, WeWork’s largest outside shareholder, according to WeWork’s financial prospectus, at an overall valuation of around $23 billion.
Not everyone was eligible to sell, nor did everyone take that opportunity. Those who did are, with the benefit of hindsight, thankful.
Some employees were indeed able to sell shares twice along the way, just like Neumann was. The most recent sale opportunity, in January 2019, offered employees $54 per share if they sold their equity to SoftBank, WeWork’s largest outside shareholder, according to WeWork’s financial prospectus, at an overall valuation of around $23 billion.
Not everyone was eligible to sell, nor did everyone take that opportunity. Those who did are, with the benefit of hindsight, thankful.
https://www.vox.com/recode/2019/9/30/20887656/juul-wework-em...
Plus i m not sure how sympathetic judges are going to be for employees' anger that they didn't become overnight millionaires