A law firm is launching an investigation into certain members of WWE management.
On June 15th, news broke via the Wall Street Journal that Vince McMahon was being investigated by the WWE Board of Directors for allegedly paying $3 million to a former employee with whom he’d previously had an affair.
The Journal’s report continues to say that the board’s investigation has also unearthed older non-disclosure agreements that surround claims of misconduct made by other former female employees that involve both Vince McMahon and Head of Talent Relations John Laurinaitis. However, it is not known how many of these claims are being looked into but payments made in relation to them are said to run into the millions of dollars.
In the wake of these allegations, the law firm Scott+Scott put out a press release to announce that they are launching an investigation into members of the company’s management to determine whether they’ve breached their duties to the company and its shareholders. The press release reads as follows:
NEW YORK–(BUSINESS WIRE)–Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of World Wrestling Entertainment, Inc. (“WWE”) (NYSE: WWE) breached their fiduciary duties to WWE and its shareholders. If you are a WWE shareholder, you are encouraged to contact attorney Joe Pettigrew for additional information at (844) 818-6982, or email@example.com.
Scott+Scott is investigating whether members of WWE’s board of directors or senior management failed to manage WWE in an acceptable manner, in breach of their fiduciary duties to WWE, and whether WWE and its shareholders have suffered damages as a result.
On June 15, 2022, the Wall Street Journal reported that the WWE board was investigating an alleged $3 million settlement that CEO Vince McMahon agreed to pay in January 2022 to a former WWE employee with whom he allegedly had an affair.
What You Can Do
If you are a WWE shareholder, you may have legal claims against WWE’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
Ahead of these allegations being made public, Stephanie McMahon, who is a member of the company’s Board of Directors, announced that she was taking a hiatus from the company. While her departure was initially said to be 100% her decision, other reports indicated that there may have been doubt within the company about her abilities in carrying out the duties of her position.
According to a recent report, she would have been aware of the board’s investigation when she made the decision to step away. The report also notes that no members of the McMahon family are taking part in the investigation, which is being led by board member Man Jit Singh.
The allegations against Vince McMahon have been major news, and were even referenced on an upcoming episode of AEW Rampage.
McMahon’s legal woes don’t stop at this investigation, however, as he is set to undergo trial next month as a result of the lawsuit being brought against him by former XFL Commissioner Oliver Luck.