Another law firm has joined a sea of investigation into WWE’s handling of fiduciary responsibilities to investors, in the wake of a report that the WWE Board of Directors probes the WWE chairman, in how a droplet of rain becomes part of a vast ocean. and CEO Vince McMahon.
pomerantz law firm It is currently the eighth law firm to investigate WWE. All investigations share a similar thread, some with more merit than others—that thread is the blatant Wall Street Journal report released earlier this month, between Vince McMahon and former female employees. Alleging misbehavior was given details of the mountain of payments. , has affected the share price of WWE. Various law firms are now investigating whether WWE was involved in securities fraud or any other illegal business practices.
WWE’s Board of Directors launched an investigation into Vince McMahon in April after a $3 million non-disclosure agreement between McMahon and a former WWE paralegal with whom McMahon allegedly had an affair was revealed. The investigation uncovered several other NDAs between McMahon and former female employees, including allegations of misconduct against McMahon, as well as former WWE Head of Talent Relations John Laurinitis. As the Wall Street Journal reports, McMahon used personal finance to fund the NDA.
McMahon has resigned from his corporate duties while retaining constructive control of the company. Stephanie McMahon, who recently announced she was taking time off from the company in the midst of an investigation, has since stepped down as interim president and CEO. Laurinitis has been placed on administrative leave, with Bruce Prichard taking over his duties.
Despite scrutiny, McMahon has recently been appearing in WWE programming far more often than ever before. None of the investigations are yet classified as “class” and are not considered class action lawsuits, only the exploratory process for them.
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