Former WeWork (WE) head Adam Neumann plans to sue SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) over the pulled $3B tender offer, according to a letter viewed by Bloomberg.

The letter, from SoftBank's attorney, says Neumann plans to follow two special committee board members in filing a complaint.

Morrison Foerster’s Erik Olson: "There is no need for WeWork to allow its cash reserves to be used to finance an expensive lawsuit intended to generate material personal benefits for the Special Committee directors and the funds they control."

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