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WWE Shareholder Lawsuit Trial Cancelled

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WWE shareholder lawsuit

The trial for the WWE shareholder lawsuit has been cancelled just days before it was set to begin.

Writing the update on social media on June 6, Brandon Thurston of Wrestlenomics confirmed the news. Thurston noted that it was unknown if a settlement had been reached:

“The WWE merger trial has been cancelled, Court Administrator for the Delaware Court of Chancery Tamara Burton confirmed to me this evening. We haven’t confirmed whether a settlement has been agreed to or is being worked on. The trial was previously scheduled to start on Monday.”

The update follows an initial report from Bloomberg, where an attorney for the shareholders, Greg Varallo of Bernstein Litowitz Berger & Grossmann LLP, said that the planned four-day trial was no longer on the Delaware Chancery Court’s calendar. Varallo would not elaborate on the reason for this.
The trial was set to feature testimonies from major figures in WWE, such as former Chairman Vince McMahon and current President Nick Khan. Triple H and head of Endeavor Ari Emanuel were also set to be part of the trial.

What Is The WWE Shareholder Lawsuit About?

WWE was sold to Endeavor back in 2023, which also included UFC as part of the deal and is collectively known as TKO Holdings. The lawsuit alleges that Vince McMahon designed the sale so that he could remain in power in WWE. Because of this, shareholders claim that McMahon acted in his best interest instead of seeking out the best deal. One of the potential bidders was Tony Khan, who owns rival promotion AEW.

The defendants were dealt another blow in the lawsuit a few weeks ago when messages from the Signal app were made public. These messages were also set to be auto-deleted after a short period of time.

WWE was sold to Endeavor to $9.3 billion. Vince McMahon resigned from WWE less than a year later after being accused of sexual assault and trafficking by former employee Janel Grant.

Featured image: WWE

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