WeWork Inc. (WE) disclosed plans to restate the financial results of its predecessor, BowX Acquisition Corp due to the "material weakness".
WeWork noted that its plans to restate the financial statements of its predecessor, BowX, are unrelated to WeWork's current operations and WeWork's financial statements.
WeWork noted that the "material weakness" referenced in the filing existed at BowX and does not carry over to WeWork. It is related to the interpretation and accounting for the BowX Class A public shares classified as permanent or temporary equity prior to the merger with WeWork.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.