The New York state attorney general is investigating WeWork, Reuters reports. The probe into the troubled co-working space company was confirmed by a WeWork spokeswoman. “We received an inquiry from the office of the New York state attorney general and are cooperating in the matter,” she said. The office of Letitia James, the attorney general of New York, had not commented publicly on the matter.
News of the probe comes after WeWork shelved its initial public offering, slashed its valuation, and took a rescue deal from SoftBank. WeWork’s founder, Adam Neumann, has stepped down from his CEO position and the company is laying off a chunk of its staff.