T. Rowe Price Group Inc. (NASDAQ: TROW) regrets investing in WeWork in 2014, it said in a filing with the SEC on Thursday.
What Happened
Asset Manager T.Rowe Price wrote a letter to its shareholders as part of its annual report and admitted that their “small private investment” in WeWork is a “terrible investment.”
The company admitted that when it made the investment, they had an understanding that the management intended to “slow the company’s blistering pace of growth and focus instead on developing a …
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