News

Legal Firm Investigating WWE Management

By TJR Staff • Published 17th June 2022
WWE Headquarters

A law firm is launching an investigation into certain “directors and officers” in WWE management.

On June 15th, the Wall Street Journal broke the news that Vince McMahon was being investigated by the WWE Board of Directors following allegations of paying $3 million to a former employee with whom he had an affair.

The report also revealed that the board’s investigation has found older non-disclosure agreements relating to claims of misconduct made by other former female employees. These involve both McMahon and Head of Talent Relations John Laurinaitis. It is not known how many of these claims are being looked into but the payments made in relation to them seemingly run into the millions of dollars.

In the wake of these allegations, the law firm Scott+Scott has issued a press release announcing it is launching an investigation into members of the company’s management to determine if they’ve breached their duties to the company and its shareholders. The full press release can be found below.

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 jpettigrew@scott-scott.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 jpettigrew@scott-scott.com.

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.

Following the allegations being made against McMahon, the company has announced that he is stepping back as Chairman of the Board until the investigation is concluded.

Stephanie McMahon, who recently scaled back her duties, has been named as the interim CEO and Chairwoman in her father’s absence.

Despite his reduced role, it has been announced that Vince McMahon will be making an appearance on this week’s edition of SmackDown, reportedly he will be “in character” on the show.