LOS ANGELES – (BUSINESS WIRE) –Schall Law Firmthe national shareholder rights court announces that it is investigating claims on behalf of investors at World Wrestling Entertainment, Inc. (“WWE” or “Company”) (NYSE: WWE) for breaches of securities legislation.
The investigation focuses on whether the company issued false and / or misleading statements and / or did not disclose information relating to investors. WWE is the subject of an article of 15 June 2022 v Wall Street Journal titled “WWE Board Probes Secret $ 3 Million Hush Pact, issued by CEO Vince McMahon, sources say.” According to the article, the company’s management is “investigating a $ 3 million secret settlement agreed by longtime CEO Vince McMahon to pay a outgoing employee with whom he allegedly had an affair, according to documents and people familiar with the committee’s investigation.” The article continues: “The committee’s investigation, which began in April, revealed other, older non-disclosure agreements, which include allegations by former WWE staff members of Mr. WWE’s misconduct. McMahon and one of its executives, John Laurinaitis, head of talent relations at WWE, were told by people. “On June 17, 2022, the company issued a press release stating: CEO Vincent McMahon and John Laurinaitis, head of the talent relations department, and to begin immediately, McMahon voluntarily resigned as chief executive officer and chairman of the board until the investigation was completed.
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