New Law Firm Launches WWE Investigation

Following the return of Vince McMahon to the WWE Board of Directors at the beginning of 2023, another law firm has announced they are considering taking action on behalf of company shareholders.

Vince McMahon stepped down as WWE Chairman and CEO in July 2022 amid an investigation into him by the company’s Board over sexual misconduct allegations and payments of “hush money” to former female WWE employees.

McMahon used his position as majority shareholder of the company to keep his retirement short as he strong-armed his way back onto the Board at the beginning of 2023 before being installed as Executive Chairman.

It later emerged that before he moved to get back on WWE’s Board, Vince McMahon had settled another claim that had dogged him for decades. It is believed that McMahon paid a sum in the millions of dollars to former WWE referee Rita Chatterton who accused McMahon of raping her in 1986.

Several shareholders have already begun legal proceedings against McMahon and the company since his return with Scott A. Fellows and the Detroit Police and Fire Retirement System filing lawsuits, claiming that McMahon had overstepped his authority.

Bloomberg reported that a third lawsuit related to the sexual misconduct allegations has been launched against McMahon. Carole Casale and Chrystal Lavalle are named as having brought this suit but no other public information has been made available. It is noted that Casale and Lavalle are seeking to keep their claim separate from the ones brought by the retirement fund and Fellows.

Bronstein, Gewirtz, & Grossman LLC is now looking into WWE’s actions and announced they are investigating “violations of the securities laws” on behalf of company stockholders.

The firm notes that their investigation centres on “whether WWE and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties in connection with the above alleged misconduct.”