SoftBank’s Vision Fund unit reported a loss of $26.2 billion for the quarter through March, as the value of its vast investment portfolio plummeted amid sharp declines in tech stocks. The unit’s loss caused SoftBank Group as a whole to report its biggest-ever annual loss of 1.7 trillion yen ($13.2 billion) for its last fiscal year through March 31. The global stock market downturn, exacerbated...
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SEC Probes Whether SoftBank-Backed Messaging App Misled Investors
The Securities and Exchange Commission has been investigating whether SoftBank-backed messaging app IRL violated securities laws, including in the way the startup described its business performance during talks with investors, according to people with knowledge of the situation. The SEC investigation began after The Information reported in May that some IRL employees had expressed concern to...
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Pinterest Adds Elliott Management Executive to its Board
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