June 30, 2022

Pullman-BLN

Legal With Effect

Law Firm Taking Action Against WWE Over Alleged Securities Violation

WWE has been under fire ever since it was revealed that Vince McMahon paid $3 million as hush money to a former company employee with whom he allegedly had physical relations with.

McMahon even stepped down from his position in the wake of the controversy and the company named Stephanie McMahon the interim Chief Operation Officer. It appears that the trouble is only beginning for WWE.

According to Business Wire, a law firm based out of California and Pennsylvania is investigating claims brought forth by WWE shareholders for violations of the securities laws. This is obviously not the kind of news Vince McMahon wanted.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. WWE is the subject of a June 15, 2022, article in the Wall Street Journal titled: “WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say.”

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation, the outlet further stated.

McMahon appeared on SmackDown this past Friday amid the latest scandal that has put the entire WWE in hot waters. We’ll have to wait and see what’s next for the boss and his wrestling empire.

What’s your take on this story? Sound off in the comments!

Manik Aftab

Manik Aftab is a news writer at Ringside News. He has been an avid fan of professional wrestling since 2000. His earliest memories of pro wrestling involved The Rock taking on The McMahon-Helmsley faction in 2000.

Outside of his writing responsibilities, Manik is a fan of fiction, thrillers, comics, manga and anime. He’s an occasional journalist and likes to spend his free time watching movies and reading stuff about politics, science, medicine, etc. Manik also enjoys jogs in the park and workouts in the gym. 

Manik is also a big of rock bands including Linkin Park, Breaking Benjamin, Metallica, Drowning Pool, Breaking Point, and Skillet. His current favorite wrestler is Kazuchika Okada and his favorite wrestler of all time is The Rock.