WeWork To Restate Financials – Company Discloses Material Weakness In Internal Control Over Financial Reporting Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether WeWork, Inc. (“WeWork” or the “Company”) (NYSE: WE) violated federal securities laws or engaged in other unlawful business practices.
In a December 1, 2021 Form 8-K, WeWork disclosed that it “. . . plans to restate . . . financial statements as of December 31, 2020 in an amendment to the 2020 Form 10-K/A and the unaudited interim financial statements as of March 31, 2021, June 30, 2021, and September 30, 2021 in an amendment to the Q3 Form 10-Q, both to be filed with the SEC.”
The Company also stated that its “. . . management has concluded that . . . there was a material weakness in internal control over financial reporting relating to the interpretation and accounting for certain complex features of the Public Shares.”
On this news, WeWork’s stock dropped, thereby injuring investors.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES AND SUFFERED FINANCIAL LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE
WEWORK INVESTORS ARE ALSO ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.