WeWork's filing for bankruptcy would mark a stunning reversal of fortune for the New York-based company that was privately valued at $47 billion in 2019 and a black spot for investor SoftBank that sunk billions.
I get that they can argue they didn’t deliberately do it, but there must be some kind of law that can be used to sue the execs and shareholders for doing that (if proven), right?
I love your optimism. Truly. But no law says a company can’t drain the bank account on salaries and bonuses and then be “shocked” when there isn’t enough money to keep the lights on.
Oh it worked. They made a shit-ton, paid the execs, and then had no more money. That was the plan. 100% success.
I get that they can argue they didn’t deliberately do it, but there must be some kind of law that can be used to sue the execs and shareholders for doing that (if proven), right?
I love your optimism. Truly. But no law says a company can’t drain the bank account on salaries and bonuses and then be “shocked” when there isn’t enough money to keep the lights on.
Sue the shareholders?
Why? There’s no such thing as a safe investment. And some (most) investors are unhinged lunatics snorting their own dried up powdered cum.