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PHILADELPHIA, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating claims on behalf of investors of WeWork (NYSE: WE). The investigation seeks to determine whether WeWork and/or the company’s officers and directors violated the securities laws, and whether WeWork investors have been harmed as a result of such actions.
In October 2021, WeWork went public through a special purpose acquisition (SPAC) merger with BowX Acquisition Corp. (NASDAQ: BOWX). Following the merger, on October 21, 2021, the first day of trading, shares of WeWork common stock closed at $11.78.
On December 1, 2021, WeWork disclosed that it would be restating financial statements filed by BowX in 2020 and 2021, and that such previously filed financial statements “should no longer be relied upon.” Additionally, the company disclosed that “management has concluded that … there was a material weakness in internal control over financial reporting.” Following this news, shares of WeWork’s common stock declined in value, damaging investors.
WeWork investors with financial losses in excess of $50,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or by email (email@example.com) or online at https://kaskelalaw.com/cases/wework/ for additional information about this investigation and their legal rights and options.
WeWork investors, and individuals with information relevant to this investigation, are encouraged to contact Kaskela Law LLC. Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
David Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740