Tuesday, May 21

Tag: Contract

Why Accenture’s $32 Million Lawsuit is a Lesson for Every Business
Story

Why Accenture’s $32 Million Lawsuit is a Lesson for Every Business

Even the best drop the ball sometimes.  This might be the biggest lesson young business owners could learn from watching the consultancy deal between Accenture and Hertz crash and burn. This is a story where “faking it until you make it,” works for a while but then when it’s time to get down to business, true colors start to show, and mistakes are revealed in ugly truths. Here some lessons you can learn as a small business owner from Accenture’s $32-million lawsuit. 1. Take the time to study your contract There are a lot of ways you can avoid expensive mistakes like the ones that got Accenture on the defense for a $32 million lawsuit.  Hertz wanted to revamp its online footprint back in 2016 and entrusted the job to Accenture, which is no doubt the most prominent consul...
WeWork sues SoftBank for backing out of $3 billion Investment deal
BUSINESS

WeWork sues SoftBank for backing out of $3 billion Investment deal

Coworking organization WeWork sued Japan-based SoftBank after the technology investment group breached its contractual obligations by backing out of a USD 3 billion investment deal. The lawsuit filed in a US court in Delaware came just days after SoftBank said it was backing out of the plan to purchase WeWork shares to shore up the finances of the struggling sharing economy giant. WeWork's board of directors called the SoftBank action "a clear breach of its contractual obligations" under an agreement between the two firms last year as well as a breach of SoftBank's fiduciary obligations to the firm's current and former employees who were to sell their equity. The complaint alleges SoftBank yielded to pressure from "activist investors" and made the move after it had "received most...