• A former employee is taking WeWork to court over cofounder Adam Neumann's reported $1.7 billion golden parachute.
• Natalie Sojka's lawsuit accuses Neumann and other WeWork directors of benefiting themselves at the expense of minority shareholders as their actions have "eviscerated" the value of WeWork stock and stock options...

• Google parent Alphabet's board is looking into the company's handling of sexual misconduct allegations, according to CNBC.
• It's formed a special committee to look into the matter and has hired an outside law firm to help out with the investigation, according to the report...

• The US Securities and Exchange Commission's Robert Jackson hopes to prevent the kind of closed-end fund activism that funds like Boaz Weinstein's Saba Capital have engaged in.
• Jackson, in an interview with Business Insider, said the SEC needs to protect the retail investors who choose closed-end funds for the fixed payouts the structure offers, and hopes to get the issue in front of the full commission before the end of the year.
• "I'm not interested in protecting funds...

Nike CEO Mark Parker is stepping down from his role at the sportswear giant after leading it for 13 years, and his replacement is earning praise from Wall Street for his background in online sales...

• The news that SoftBank will give Adam Neumann close to $1.7 billion as part of a package to leave WeWork's board and give up his voting power sent reverberations through the world of tech and finance Tuesday morning.
• Experts largely agree that SoftBank made the right move by separating Neumann from WeWork, but many bowled over by the astronomical value of Neumann's golden parachute...

• WeWork's two new CEOs told employees that the board had talked with more than 75 sources "regarding potential financing for the company," according to a leaked email seen by Business Insider.
• They did not specify details as to who these 75 sources are or what their interests are.
• The email comes as the CEOs try to bolster morale as employees brace for layoffs...

• Hudson's Bay, which owns Saks Fifth Avenue, is being taken private by a group of its shareholders.
• The shareholder group, which includes Hudson's Bay Executive Chairman Richard Baker, owns 57% of the Canadian company.
• Hudson's Bay has struggled to adapt to a dramatic shift to online shopping...

• Recent filings from a lawsuit against Elon Musk suggest that he testified that he is "financially illiquid," despite an estimated $23.7 billion net worth.
• Top corporate executives like Musk often receive most or even all of their compensation in the form of potentially illiquid stock or options in the companies they lead, rather than in cash...

• Microsoft CEO Satya Nadella's pay during the company's most recent fiscal year is up 65 percent to $42.9 million.
• A big part of Nadella's higher compensation includes stock awards related to Microsoft's increasing market cap.
• Nadella made 249 times more than the company's median employee in fiscal year 2019....

The latest campaign for Wall Street hedge fund Elliott Management is a big one, taking on well-known American staple AT&T. The man in charge of pushing the massive company to make the changes the $38 billion fund sees fit is 39-year-old Jesse Cohn, billionaire Paul Singer's right-hand man...

• WeWork's board is considering replacing founder Adam Neumann as CEO amid the company's disastrous attempt to go public.
• There's just one problem: WeWork's board of directors doesn't have the authority to do that.
• Neumann controls the voting power of the company, meaning he controls the company.
• The board will have to pressure him in other ways, governance experts tell Business Insider.
• And Softbank, WeWork's biggest backer, is sure to play a big role in the coming drama...

• Some board members at coworking startup WeWork aim to push out CEO Adam Neumann, according to a report from the Wall Street Journal.
• The board could meet this week and might discuss Neumann becoming WeWork's nonexecutive chairman, the Journal reported.
• According to the report, it was unclear how all of the company's seven directors — a list that includes Adam Neumann himself — have sided...

• WeWork is delaying the timeline for its initial public offering plan amid a wave of criticism in recent weeks, including complaints over a deal under which the company paid Neumann $5.9 million for use of the word "We."
• WeWork's board of directors includes former officials at Coach, Goldman Sachs, and Uber, along with top private equity and venture capital executives...

Helios and Matheson Analytics (HMNY) announced Friday that it will shut down MoviePass on Saturday.

The movie-ticket subscription service along with Moviefone and MoviePass Films, which are all owned by HMNY, will be up for sale, according to a press release...

• WeWork is mulling whether to reduce CEO Adam Neumann's power to make its planned public offering more attractive to potential investors, The Financial Times reported.
• The company and its advisors are considering whether to reduce Neumann's voting power from the 20 votes per share that he has now.
• It's also debating whether to remove his wife, Rebekah Neumann, from her role in naming a successor to her husband if he dies or becomes debilitated...

• Oracle is in the middle of an interesting lawsuit in which its own board committee has given approval for a shareholder-initiated lawsuit to proceed on behalf of the company against its chairman Larry Ellison, CEO Safra Catz and other board members.
• The suit alleges that Oracle's directors greatly overpaid when they crafted a deal to buy NetSuite for $9.3 billion in 2016.
• NetSuite is a company that Ellison cofounded and controlled with about a 40% stake...

• WeWork, in its public offering documents, disclosed a slew of related-party transactions involving CEO Adam Neumann, his wife, and various family members.
• But the company didn't disclose a collection of deals involving the family members of other company officials, according to a report in the Wall Street Journal...

Cloudflare, a security startup that protects websites from attacks and helps pages load quickly, set a price range for its upcoming IPO, which could value the San Francisco company as high as $3.5 billion...

• Like many startups that have gone public recently, Peloton will have a stock structure that gives extra votes to certain insiders.
• Many companies with such arrangements give insiders 10 votes per share, but Peloton CEO John Foley and some early investors in the fitness firm will get 20 votes per share.
• At least as things stand now, Foley wouldn't have majority control by himself, because he's not the biggest holder of super-voting shares...

• In 1997, Amazon issued its first letter to shareholders. It has since become infamous in the tech industry, and core to Amazon's origin story.
• It laid out Amazon's long-term goals, and stressed to investors the importance of focusing on long-term value over short-term returns — a strategy since adopted by many major internet companies, from Uber to WeWork.
• The letter is signed by Amazon CEO Jeff Bezos, and has always been attributed to him...

• Better.com CEO Vishal Garg told Business Insider he'd like his rapidly growing mortgage-tech company, which just closed its Series C, to tap the public markets in two to three years.
• He criticized the trend among startups of delaying an IPO in favor of basking in the private markets, likening it to a college victory lap that stunts maturation.
• "It'd be kind of like staying in college six years rather than four years. It's a lot more fun. Nobody's watching...

• A three-member committee of Oracle's board has written an extraordinary letter to a Delaware court.
• The letter, dated August 15, grants permission for a shareholder-initiated lawsuit to proceed against Oracle founder and chairman Larry Ellison, as well as one of Oracle's co-CEOs, Safra Catz.
• This is a "derivative lawsuit" meaning it was filed on behalf the company against the directors...

• WeWork's CEO was paid nothing in 2018, the company said in its initial public offering filing on Wednesday.
• Adam Neumann is worth an estimated $4.1 billion after founding the company a decade ago.
• WeWork, the $47 billion co-working company, is going public. Here's everything we know about what's going on.

• For the second year in a row, Oracle's board has told investors that its trio of top execs — CEO Safra Catz, fellow CEO Mark Hurd, and CTO Larry Ellison — won't be getting their all of their bonuses.
• The company says they didn't meet the business objectives, including specific cloud computing revenue targets.
• And for the second year in a row, this loss of bonuses is a bit of a red herring...