The meteoric rise and dramatic fall of WeWork and its founder and former CEO Adam Neumann is all set to become a movie, according to The Hollywood Reporter. Universal and Jason Blum's Blumhouse Productions are in the works of a movie that will be penned by Academy Award winner Charles Randolph.
Randolph, who was behind the movie The Big Short about the 2008 global financial crisis, will base his new work extensively on reporting from Katrina Brooker, in addition to her upcoming book, the report said.
Brooker has conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork, which has been mired in controversy since its failed IPO.
WeWork officials, including co-founder and former chief executive Neumann, are being sued by minority shareholders to recoup losses as the shared workspace provider pulled its initial public offering and saw its value plunge more than 87 percent.
In a proposed class action lawsuit filed last month in a San Francisco, former WeWork employee Natalie Sojka accused the company's board of directors of breaching its fiduciary duties to minority shareholders like her. Softbank and its chairman, Masayoshi Son, are among the 10 named defendants in the November 4 complaint, which also accuses them and Neumann of self-dealing.
First Published: IST