Lawsuit Against Vince McMahon Has Been Dropped

Vince McMahon WWE

A lawsuit that was filed by WWE shareholders has been dropped against the company’s Executive Chairman Vince McMahon.

Ever since he came back to WWE to start 2023 as the Executive Chairman, the formerly “retired” mustache man Vince McMahon has been dealing with legal troubles. That’s because “hush money payments” totaling over $17 million over the last 20 years are what caused his problems in the first place.

Due to Vince McMahon’s power play to get back in control of WWE, there have been multiple lawsuits against him due to people being upset that he was back in the company and McMahon even paid millions to settle a sexual assault claim against him from decades ago.

In an update on one of the lawsuits against Vince McMahon, some WWE shareholders have dropped a lawsuit, according to Bloomberg.

Shareholders leading the consolidated lawsuit agreed to drop it Wednesday, saying their claims became moot when McMahon agreed in late March to repay $17.4 million the company wracked up investigating him. Vice Chancellor J. Travis Laster granted the motion the same day.

The payment appears to cover only the cost of the probe, not the nearly $20 million McMahon allegedly paid his accusers since 2007. Counsel for the WWE investors indicated they plan to seek a “mootness fee” as a reward for their role in forcing McMahon’s hand.

A different group of shareholders is already seeking a mootness fee after dropping a related case when McMahon walked back some bylaw changes he’d pushed through as part of his corporate coup in early January. McMahon had left the board in mid-2022.

It was just one month ago after WrestleMania 39 when Endeavor acquired WWE in what will become a $21 million merger with UFC, which still gives the 77-year-old Vince McMahon a lot of power in WWE moving forward.