WeWork Is Facing SEC Inquiry Into Possible Rule Violations
- SEC is examining disclosures to investors, WeWork’s business
- Agency review is preliminary, may not lead to enforcement case
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WeWork is drawing scrutiny from the U.S. Securities and Exchange Commission over whether the co-working company violated financial rules in the run-up to its failed initial public offering, according to two people with knowledge of the matter.
The agency’s enforcement division is reviewing WeWork’s business and its disclosures to investors amid a number of news articles that highlighted potential conflicts of interest and the company’s aggressive fundraising, the people said. WeWork has retained Andrew Ceresney, a top Wall Street lawyer who previously headed the SEC enforcement unit, according to the people.