SoftBank Group

Business • Economy
Shareholders plans to sue EY over its role in the Wirecard scandal
Shareholders plans to sue EY over its role in the Wirecard scandal
Credit: Kaethe17 (Creative Commons Attribution ShareAlike 4.0)

The German shareholders’ association SdK announced Friday that it had filed a criminal complaint against accounting firm at EY over its role in the Wirecard scandal.

According to news magazine Der Spiegel, SoftBank is also planning to sue EY after investing 900 million euros in Wirecard last year.

EY, told CNBC late Thursday that "even the most robust and extended audit procedures" couldn’t uncover what it called a “collusive fraud.”

Technology • Internet & Web
WeWork’s Adam Neumann sues SoftBank over canceled $3 billion stock deal

WeWork co-founder Adam Neumann sued SoftBank, its biggest investor, over the Japanese company’s decision to scuttle a $3 billion deal to buy stock from employees and other shareholders.

Bloomberg reports Neumann contends that SoftBank Group relied on legally faulty pretexts to renege on its agreement to buy the office-sharing company’s stock as the conglomerate’s financial position weakened, according to a copy of the complaint.