A source close to Vince McMahon has commented on the WWE shareholders’ lawsuit.
The trial was originally set to begin on June 8. However, the weekend prior, the trial was removed from the Delaware Court of Chancery. Court Administrator Tamara Burton later confirmed that the trial had been cancelled. McMahon, Nick Khan and Paul Levesque [Triple H] were set to appear as part of the trial.
Following the update, Brandon Thurston of Wrestlenomics stated that the trial was cancelled “at the parties’ request.” Adding, “the parties have advised the court that they will present the settlement for approval in due course.”
In a further update by Sean Ross Sapp of Fightful Select, a source close to McMahon said the following about the outcome:
“This exact kind of litigation follows every single transaction involving a public company. But here’s the key: Endeavor’s bid was by far the highest. It was signed off on by three separate independent banks – JP Morgan, Raine and Moelis. That’s why WWE’s Board of Directors gave their unanimous approval. The deal created the premier combat sports company. And the shareholders made an absolute fortune.”
It should be noted that the above statement is from someone close to McMahon, not McMahon himself, and is not factual in nature.
WWE Shareholders’ Lawsuit Against Vince McMahon & Other Parties Settled
The lawsuit was originally filed in 2023. The allegations in the lawsuit were that McMahon predetermined the sale of WWE to the Endeavor group to secure his role in the promotion. McMahon made this move as he recently returned after initially retiring due to sexual misconduct allegations. The shareholders allege that McMahon did not seek to maximise the sale for shareholders, and instead acted in his own best interests.
McMahon and Khan were already sanctioned by the judge for destroying evidence after screenshots from the Signal messaging app were set to auto-delete. Those representing a class of WWE shareholders in the lawsuit claim that, based on their expert report, they were owed close to $1 billion.
It should be noted that this lawsuit is one of many that McMahon is a defendant in. Lawsuits from the survivors of the Ring Boy scandal and a sexual assault and trafficking lawsuit from Janel Grant remain ongoing.
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