Wednesday, May 31, 2023
HomeUncategorizedVince McMahon investor case dropped after a payment of $17.4 million

Vince McMahon investor case dropped after a payment of $17.4 million

Vince McMahon is no longer in the middle of a lawsuit from investors after his surprise return to the WWE board in the middle of accusations of inappropriate behavior and hush money.

This comes about a month after WWE announced its $21 billion merger with UFC, which is owned by Endeavor Group Holdings.

This Wednesday, shareholders leading the joint lawsuit against McMahon agreed to drop it. They made a note saying that McMahon agreed to repay the $17.4 million that the company wracked up when investigating him. The motion was granted. According to a report by Bloomberg Law, the payment covers the cost of the probe. It did not cover the almost-$20 million that he had paid his accusers since 2007.

Counsel for the investors has decided to seek a mootness fee for securing McMahon’s agreement. Another group of shareholders was also seeking a mootness fee when they dropped a case in a related matter when McMahon walked back some bylaw changes made in early January.

This does not mean that Vince McMahon is free of legal issues at the moment. He is facing multiple other challenges, including a lawsuit filed in April by a former writer that accuses WWE and many of the leaders of multiple discriminatory offenses.

A former WWE star allegedly emailed Tony Khan and never got a reply. Hear the story here.

Quick Links

More from Sportskeeda

Edited by Ashvinkumar Patil

Source link



Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments