SPECIAL COMMITTEE OF SOFTBANK BOARD OF DIRECTORS COMPLETES REVIEW OF PURPORTED SHAREHOLDER CLAIMS
June 20, 2016 (TOKYO, JAPAN) — SoftBank Group Corp. (“SBG”) today announced that a Special Committee of independent members of its Board of Directors (“Special Committee”) has completed its review of allegations regarding SBG President and Chief Operating Officer Nikesh Arora in a purported shareholder demand. The Special Committee has concluded that the claims concerning the conduct of Mr. Arora during his tenure at SBG are without merit. The allegations had been raised in a number of letters from a law firm which claimed to represent the interests of certain unidentified SBG and Sprint Corporation shareholders.
The Special Committee was formed in February of this year. It conducted its review with the assistance of independent counsel at Shearman & Sterling LLP and Anderson Mori & Tomotsune.
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