A new report reveals that Vince McMahon agreed to pay a hefty sum in attorney fees after returning to the WWE Board of Directors in January.
In July of 2022, Vince McMahon shocked the world when he announced his retirement from WWE. The announcement came amidst an investigation into allegations of sexual misconduct and hush money payments made to multiple women, and Stephanie McMahon and Nick Khan were named co-CEO’s of the company.
However, McMahon’s retirement was short-lived, and in January of 2023 he announced that he would be electing himself back to the WWE Board of Directors in order to facilitate a sale of the company. Stephanie McMahon resigned shortly thereafter, and Vince was unanimously elected Executive Chairman of the Board following his return.
Vince McMahon To Pay Attorney Fees For Dismissed Lawsuits
Multiple lawsuits were filed following McMahon’s return to the Board of Directors, and according to a recent SEC filing from the newly-formed TKO Group, McMahon paid $2 million in attorney’s fees despite the lawsuits themselves being dropped. Brandon Thurston reports:
“Vince McMahon will pay $2 million in attorneys’ fees to the plaintiffs who sued him for allegedly breaching his fiduciary duties when he forced his way back into WWE earlier this year.
The lawsuit itself was dismissed as moot in May because Vince paid $17.4 million to reimburse WWE for the costs of WWE’s investigation into allegations of sexual misconduct against himself and former WWE executive John Laurinaitis.
To emphasize, the only new information here is that Vince agreed to pay $2 million toward the plaintiffs’ attorneys’ fees.”
Vince McMahon will pay $2 million in attorneys' fees to the plaintiffs who sued him for allegedly breaching his fiduciary duties when he forced his way back into WWE earlier this year.
The lawsuit itself was dismissed as moot in May because Vince paid $17.4 million to reimburse… pic.twitter.com/RkK30ORKvy
— Brandon Thurston (@BrandonThurston) September 29, 2023